ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Credit in Dutch Current a/c
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Debit in Dutch Current a/c
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Credit in Dutch Capital a/c
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Debit in Dutch Capital a/c
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Detailed explanation-1: -Trade In January 2022, the top exports of Russia to Netherlands were Crude Petroleum ($885M), Refined Petroleum ($747M), Commodities not elsewhere specified ($92.6M), Raw Aluminium ($37.6M), and Petroleum Gas ($36.4M).
Detailed explanation-2: -A current account deficit occurs when a country sends more money abroad than it receives from abroad. If the nation receives more money from abroad than it sends, it has a current account surplus.
Detailed explanation-3: -In 2021, according to the World Bank, the 12 countries with the largest current account surpluses were China, Germany, Japan, Russia, the Netherlands, South Korea, Switzerland, Norway, Singapore, Ireland, Australia, and Italy. 1 These current account surpluses finance current account deficits in other nations.
Detailed explanation-4: -The four major components of a current account are goods, services, income, and current transfers.