State any four items of current account of BOP account.

The current account of BOP account is that account which records imports and exports of goods, services and unilateral transfers during a year. It relates to all activities which do not alter the value of assets and liabilities of a country. Current account deals with real and short term transactions. These are called actual transactions as they affect income, output and employment of a country through transfer of goods and services. Thus balance of current account can be estimated as the sum total of balance of trade, balance of services and balance of unilateral transfers.
Components of current account of BOP. These items are as under:
(i)    Export and import of goods (called visible trade),
(ii)   Export and import of services – non-factor and factor services (called invisible trade),
(iii)  Unilateral transfers (Transfer receipts/payments) and
(iv)  Investment income (factor income from land, bonds, shares abroad).
The following extract from RBI's quarterly bulletin further clarifies the components of current account of Balance of Payment. The item ‘Merchandise’ used in the table means goods and their exports recorded as credits and imports as debits.

Source: Reserve Bank of India bulletin, May 2011.