ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Financial ac outflow
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Investment income outflow
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Transfers outflows
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Reserves
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Detailed explanation-1: -The Balance of Payments (BOP) is a summary of the economic transactions of a country with the rest of the world for a specific period. It serves as an accounting statement on the economic dealings between residents of the country and non-residents.
Detailed explanation-2: -Current account of Balance of Payments account records only exports and imports of goods and services.
Detailed explanation-3: -The Current Account In economic analysis or commentary, most attention is usually given to the trade balance, which records the difference between the value of our exports and imports of goods and services.
Detailed explanation-4: -Sri Lanka’s central bank created a BOP deficit of 2.3 billion US dollars in 2020, 3.6 billion US dollars in 2021 and 2, 986 million US dollars up to July 2022.