The table gives information about the trade between Singapore and New Zealand during 2001, the first year after they signed a free trade agreement. The values are given both in Singapore dollars (S$) and New Zealand dollars (NZ$).
What can be concluded from the table?
1 )
New Zealand gained more than Singapore from the trade agreement.
2 )
New Zealand’s trade position with Singapore improved in 2001.
Singapore had a trade surplus with New Zealand in 2001.
4 )
The exchange rate in 2001 was approximately NZ$ 1 = S$ 1.2.
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