Reference: Ref 20-2 (Table: Balance of Payments) According to the data in this table, what is the current account balance for this country in 1997?

Question

Quizplus · Accepted Answer

The current account balance is calculated as exports minus imports plus net income from abroad plus net transfers. In 1997, this country had exports of $1,420 million, imports of $1,600 million, net income from abroad of $90 million, and net transfers of -$95 million. Therefore, the current account balance is:
$1,420m - $1,600m + $90m - $95m = -$185m.
So, the correct answer is option B.

Reference: Ref 20-2 (Table: Balance of Payments) According to the Data