The private savings in country X in 2020 was $200 billion. The private investment in that country was $500 billion. The government of the country runs a balanced budget (no surplus or deficit) and the consumption in the country was $700 billion. Which one of the following statements is true based on these facts?

Country X runs a current account surplus of $300 billion.

Country X runs a current account surplus of $200 billion.

Country X runs a current account deficit of $200 billion

Country X runs a current account deficit of $300 billion.