The current account of the Balance of Payments includes various economic transactions between a country and the rest of the world. It records international transactions related to goods, services, income, and unilateral transfers.

Option 1: Export and import of goods are a significant component of the current account. It tracks the value of goods traded between a country and other nations.

Option 2: Export and import of services are also included in the current account. This category comprises transactions related to services like tourism, transportation, and financial services.

Option 3: Income receipts and payments are an essential part of the current account. It includes income earned by residents of a country from their investments abroad and income received by foreign residents from their investments within the country.

Option 4: Capital receipts and payments do not fall under the current account. These transactions relate to the acquisition or disposal of assets like land, buildings, and financial investments.

Therefore, option 4, capital receipts and payments, is the correct answer as it does not form part of the current account.