The watt loss component of the primary excitation current is given by the formula:
\[
P = I^2 R
\]
where \( I \) is the excitation current, and \( R \) is the equivalent resistance of the transformer. The rated power \( P = 5 \, \text{VA} \). The excitation current can be calculated by:
\[
I_{\text{exc}} = \frac{P}{V} = \frac{5 \, \text{VA}}{1000 \, \text{V}} = 0.005 \, \text{A}.
\]
Thus, the watt loss component of the primary excitation current is \( 4.9 \, \text{mA} \).