In 1988,the United States had a large current account deficit but an ORT surplus because

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A current account deficit is when a country's imports exceed its exports, which can lead to a deficit in the balance of payments. An ORT surplus is when a country's income from overseas investments is greater than the income foreigners earn on domestic investments. In 1988, the US had a current account deficit but an ORT surplus because the capital account surplus (money flowing into the US from foreign investment) was greater than the current account deficit. This means that even though the US was importing more than it was exporting, it was attracting more investment from foreign countries than it was investing abroad.

In 1988,the United States Had a Large Current Account Deficit