Ceist Eile

Ceist Eile is in development. Features, questions and prices may change while we refine it.

Subjects · Leaving Cert Economics

Leaving Cert Economics: Balance of payments

How often Balance of payments comes up on the Economics papers, every year it was asked, and questions to try.

HL Asked on 3 of the last 5 Higher Level papers, most recently in 2024. most years

OL Asked on 3 of the last 5 Ordinary Level papers, most recently in 2024. most years

Balance of payments, Higher Level(7 marks)

Quick ones on Balance of payments.

(a)A country exports €150bn of goods and imports €170bn. What is its balance of trade?
  1. A €20bn surplus
  2. A €20bn deficit
  3. A €320bn surplus
(b)For Ireland, an American tourist spending money in Galway is…
  1. A services (invisible) import
  2. A visible (goods) import
  3. A services (invisible) export
(c)The current account of the balance of payments includes…
  1. Goods, services, primary and secondary income
  2. Only capital flows such as foreign investment
  3. Only trade in goods (visible trade)
Show the answers

(a) A €20bn deficit

(b) A services (invisible) export

(c) Goods, services, primary and secondary income

Your turn: Higher Level questions on Balance of payments.

Higher Level

Asked on 3 of the last 5 Higher Level papers, most recently in 2024. most years

Every paper, year by year

YearWhere it came up
2025Not asked
2024Q1
2023Not asked
2022Q2
2021Q1

Links open the State Examinations Commission’s paper for that year.

More Balance of payments questions

Balance of payments, 2 marks

Which is a visible export for Ireland?

  1. French tourists staying in Kerry
  2. Fees paid by an Irish student to a UK college
  3. Irish beef sold to France
Show the answer

Irish beef sold to France

Visible trade is physical goods; invisibles are services. Tourist spending here is an invisible export, and paying a UK college is an invisible import.

Balance of payments, 2 marks

Which would improve Ireland's current account balance?

  1. More Irish holidays abroad
  2. A rise in exports of goods and services
  3. A rise in profits sent abroad by MNCs
Show the answer

A rise in exports of goods and services

Exports and income inflows add to the current account. Profit outflows (primary income) and Irish tourists' spending abroad (service imports) worsen it.

Ordinary Level

Asked on 3 of the last 5 Ordinary Level papers, most recently in 2024. most years

Every paper, year by year

YearWhere it came up
2025Not asked
2024Q5, Q14
2023Q13
2022Not asked
2021Q6

Links open the State Examinations Commission’s paper for that year.

More Balance of payments questions

Balance of payments, 3 marks

Exports are €50bn and imports are €42bn. The trade balance is?

  1. A deficit of €8bn
  2. A surplus of €92bn
  3. A surplus of €8bn
Show the answer

A surplus of €8bn

Trade balance = exports - imports = €50bn - €42bn = +€8bn. More money comes in from sales abroad than goes out on imports, so it is a surplus.

Balance of payments, 3 marks

An American tourist spending money in Kerry is, for Ireland?

  1. A visible export
  2. An invisible export
  3. An invisible import
Show the answer

An invisible export

Invisible trade is trade in services. The tourist buys Irish services and brings money into Ireland, so it counts as an export even though the spending happens here.

Balance of payments, 2 marks

Ireland buying cars made in Japan is?

  1. A visible import
  2. A visible export
  3. An invisible import
Show the answer

A visible import

Visible trade is trade in physical goods. Money flows out of Ireland to pay for the cars, so it is an import.

Other Economics topics

All of Leaving Cert Economics