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State the components of current account ...

State the components of current account of the Balance of Payments account.
OR
Name the broad categories of transactions recorded in the 'current account' of the Balance of Payments Accounts.
OR
List the items of the current account of balance of payments account. Also define 'balance of trade'.

Text Solution

Verified by Experts

The Bureau of Economic Analysis divides the current account into four components: trade, net income, direct transfers of capital, and asset income.
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State the components of capital account of balance of payments. OR Name the broad categories of transactions recorded in the 'capital account' of the Balance of Payments Accounts.

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Knowledge Check

  • The categories of transactions that are included in current account of Balance of Payments are:

    A
    Exports and imports of goods
    B
    `(a) +` Exports and imports of services
    C
    `(b) +` Income from and the to abroad
    D
    `(c) +` Transfers from and to abroad

  • The categories of transactions that are included in the capital account of the Balance of Payments are

    A
    Investments from and to abroad
    B
    Borrowings and lendings from and to abroad
    C
    Changes in foreign exchange reserves
    D
    All the above

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    Name the broad categories of transactions recorded in the 'capital account' of the Balance of Payments Accounts. OR Name the broad categories of transactions recorded in the 'current account' of the Balance of Payments Accounts.

    List the items included as invisible in the balance of payments account.

    What are the two main components of the Balance of Payments account?

    What is 'current account deficit' in the balance of payments?

    Export and import of machines are recorded in capital account of the balance of payments account.

    Foreign investments are recorded in the capital account of balance of payments.

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