ECONOMICS
BALANCE OF PAYMENTS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Export revenue = import spending
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Export revenue is greater than import spending
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Export revenue is less than import spending
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None of the above
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Detailed explanation-1: -Current Account Surplus Across the World 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.
Detailed explanation-2: -A current account surplus means that the current account has a positive balance of payments. In other words, the exports of a country exceed the imports.
Detailed explanation-3: -Answer and Explanation: The selling of a computer chip to a different country depicts the exports for the Country U.S. Hence, it is included in the current account transaction of Country U.S.
Detailed explanation-4: -This statistic shows the 20 countries with the highest trade surplus worldwide in 2021. In 2021, China was the country with the highest trade surplus with approximately 675.2 billion U.S. dollars.