Impact of Increased Imports on Current Account

In the context of international economics, the balance of payments (BOP) serves as a record of all economic transactions between residents of a country and the rest of the world during a specific period. It comprises two main accounts: the current account and the capital account. The current account reflects a nation's trade balance, which includes exports and imports of goods and services, along with net income and current transfers. The capital account, on the other hand, records the transactions involving the purchase and sale of assets.

Consider a scenario in which a country experiences a significant increase in its imports without a corresponding increase in exports. In this situation, what is the most likely effect on the current account of the balance of payments?