Question

In a given year, US exports were $5 billion and imports were $16 billion. What was the US trade deficit or trade surplus that year?

Answer 1

trade deficit

when imports are more than exports it is bad for economy and it is loss

Answer 2

The US trade deficit in the particular year was $11 billion.

Explanation:

In Macroeconomics or International Economics,trade surplus or deficit is calculated by taking the difference the overall or total export value and the total or overall import value of any country.In this instance,the US export value was $5 billion and the overall import value was $16 billion in a particular year.

Therefore,trade deficit or surplus in US in that year=$( 5 billion-16 billion)=-11 billion$ dollars

The above calculation indicates that in that particular year US had a trade deficit of $11 billion as the overall or total export exceeded the total or overall import value in the country.