Question

Given the above information , is this economy net importer or net exporter

Answer 1

Answer:

What Is a Net Exporter?

A net exporter is a country or territory whose value of exported goods is higher than its value of imported goods over a given period of time.

Countries produce goods based on the resources available in their region. Whenever a country cannot produce a particular good but still wants it, that country can buy it from other countries who produce and sell that good.

When a country purchases a good from another country and brings it to its own country to distribute to its people, that is an import. When a country produces a good domestically and then sells it to other countries, that is an export. When a country sells more goods to other countries than it buys, that is a net exporter.

A net exporter is the opposite of a net importer, which is a country or territory whose value of imported goods and services is higher than its exported goods and services over a given period of time.

What is a Net Importer

A net importer is a country or territory whose value of imported goods and services is higher than its exported goods and services over a given period of time. A net importer, by definition, runs a current account deficit in the aggregate; however, it may run deficits or surpluses with individual countries or territories depending on the types of goods and services traded, competitiveness of these goods and services, exchange rates, levels of government spending, trade barriers, etc.

BREAKING DOWN Net Importer

As categorized by the U.S. Commerce Department, traded goods include food and beverage, industrial supplies (inclusive of commodities), capital goods, automobiles and consumer goods, while main services comprise travel (goods and services acquired abroad), transportation, information technology and telecommunication, financial and insurance services, and general business services. The Commerce Department keeps monthly tallies on exports and imports in numerous table displays.

The U.S. as a Net Importer

The United States, a consumer colossus, has been a net importer for decades. Even though this country excels in a number of leading export goods and services — passenger planes, factory equipment, luxury automobiles, soybeans, Hollywood movies, banking services, to name several — Americans love to buy things, and countries around the world are happy to feed the beast. Being a net importer is not necessarily a bad thing, but running a chronic and growing trade deficit over time creates a host of issues. In 2017, imports exceeded exports by $566 billion, according to Commerce Department data. In the trailing 10-year period ending 2017, the average trade deficit was $520 billion per year. The major problem with these substantial trade deficits is that they must be financed to maintain the balance of payments account. The principal means of financing the current account deficit is borrowing from other countries. Continuous sales of Treasury bonds to major trading partners from which the U.S. is a net importer has created a measure of dependency on these creditors, which, some say, has the potential to lead to political or economic danger down the road.

Answer 2

Hey Buddy

Above informtion is not given...

You can determine yourself, just check if the imports of the economy or a country is more than its exports then it is net importer , whereas if the exports are more than imports then the economy is net exporter.

Hope it helps..