Economics 0455 · IGCSE · Current account of balance of payments

Current account of balance of payments — practice question

Here is a country’s balance of payments, and it has no secondary income (current transfers). Items (in $\$\text{ million}$): exports of goods $= 280$, imports of goods $= 350$, exports of services $= 110$, imports of services $= 60$, net primary income $= -40$. What is the balance on the country’s current account?

  • Aa deficit of $\$60$ million
  • Ba deficit of $\$160$ million
  • Ca surplus of $\$20$ million
  • Da surplus of $\$760$ million

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI