Explanation:

The current account records exports and imports in goods and services and transfer payments.

• It represents a country’s transactions with the rest of the world and, like the capital account, is a component of a country’s Balance of Payments (BOP).
• There is a deficit in Current Account if the value of the goods and services imported exceeds the value of those exported.
• Current Account Deficit could be reduced by boosting exports and curbing non-essential imports such as gold, mobiles, and electronics. Hence, statement 2 is correct.

Hence only statement 2nd is correct.