In 2019, Sierra Leone had $5 billion of net exports and bought $1 billion of goods from foreign countries. What were Sierra Leone's components of net exports?
A) $6 billion in exports and $1 billion in imports
B) $5 billion in imports and $1 billion in exports
C) $4 billion in exports and $1 billion in imports
D) $1 billion in imports and $4 billion in exports

Question

Quizplus · Accepted Answer

Net exports are calculated as exports minus imports. Sierra Leone had $5 billion of net exports and bought $1 billion of goods from foreign countries (imports). Therefore, Sierra Leone must have had $6 billion in exports ($5 billion net exports + $1 billion imports) to achieve $5 billion of net exports.

In 2019, Sierra Leone Had $5 Billion of Net Exports