Using Fig. 4.1 only, name the country: - to which Pakistan sends the highest value of goods - from which Pakistan buys the highest value of goods - which Pakistan both sends goods to and buys goods from
Pakistan’s total exports in 2017 were worth US $24.8 billion, while its total imports were worth US $55.6 billion. Calculate Pakistan’s trade balance in 2017. Show your working in the box below.
State the difference between GNP and GDP.
State two of Pakistan’s major exports and two of its major imports.
Describe how the types and value of goods imported and exported by Pakistan have changed in recent years.
Explain how trading blocs and currency exchange rates influence Pakistan’s trade. You should develop your answer.
In 2017 Pakistan’s balance of trade was influenced by a 0.2 per cent fall in the value of its exported goods and a 5.1 per cent rise in the value of imported goods. Read the two views below: View A says: “Pakistan could reduce the quantity of low-cost goods imported to improve the balance of trade.” View B says: “Pakistan could sell goods to a larger range of countries to improve the balance of trade.” Which view do you support more? Give reasons for your answer and refer to examples you have studied. You should take both View A and View B into account in your response.