Transactions on current account in the balance of payments of a country includes 1 Receipt of ...........

Economic Affairs Balance of Payments

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Transactions on current account in the balance of payments of a country includes

1. Receipt of export proceeds

2. Payments of import cost.

3. Receipts of Gifts

4. Receipts of loans

Choose your answer from the codes given below:

1, 2, 3 and 4

1, 2 and 3 only

1, 3 and 4 only

2, 3 and 4 only

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Explanation:

The current account records exports and imports of goods and services as well as unilateral transfers
The main components of Current Account are:
1. Export and Import of Goods (Merchandise Transactions or Visible Trade), Export and Import of Services (Invisible Trade), Unilateral or Unrequited Transfers to and from abroad (One sided Transactions) & Income receipts and payments to and from abroad