Guatemala’s balance of payments on the current account stood at –US$1.6 bn in 2011 and at +US$1.0 bn in 2016. Which factor is most likely to have contributed to this shift in the balance of payments on the current account during this five-year period?
- Aan appreciation of Guatemala’s currency
- Ba growth of household incomes in Guatemala
- Ca lowering of tariffs on goods imported into Guatemala
- Dproductivity improvements in Guatemala’s export sector