Question

Nominal GDP, Exports, and Imports

Year Nominal GDP ($ billions) Exports ($ billions) Imports ($ billions)
2015 $17,172.7 $2,344.0 $2,815.4
2016 17,806.7 2,372.7 2,924.8

If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
a. Calculate the value of net exports in 2015.
b. Calculate the value of net exports in 2016.

Answer 1

a.

Net Exports 2015 are - $471.4 billion.

b.

Net Exports 2016 are - $552.1 billion.

Step-by-step explanation:

The net exports for a country is the difference between the value of exports and the value of imports of a country over a certain period of time. The amount of net exports can be wither positive or negative depending upon the value of exports being in excess of the value of imports or not. The formula for net exports is,

Net Exports = Value of Exports - Value of Imports

a.

Net Exports for 2015 = 2344 - 2815.4

Net Exports for 2015 = - $471.4 billion

b.

Net Exports for 2016 = 2372.7 - 2924.8

Net Exports for 2016 = - $552.1 billion