Over one year, a country records the following dealings with the rest of the world:
| Item | Receipts (£ billion) | Payments (£ billion) |
|---|---|---|
| Exports and imports of goods and services | 460 | 483 |
| Primary income | 42 | 49 |
| Secondary income | 12 | 19 |
Calculate the country's current account balance for the year.
52 exam-style questions on OCR GCSE Economics 4.2 Balance of payments, covering 4.2.1 Balance of payments on current account, 4.2.2 Balanced account, surplus and deficit, 4.2.3 Calculate deficits and surpluses, 4.2.4 Analyse exports and imports data, 4.2.5 Importance of the balance of payments, and 4.2.6 Causes of surpluses and deficits. Each one has a worked solution and a mark scheme showing where the marks go.