A country's balance of trade of -$20 million shows that its

Commerce

WAEC 2021

A. import volume is greater than export
B. import and export volumes are equal
C. export volume is greater than imports
D. exports are mainly primary products

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Correct Answer: Option A

Explanation

The minus (-) sign behind the amount depicts a negative balance. This means the country is giving out more than it is receiving in payment. Simply put, the country's imports exceed its exports by the sum of $20 million.

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A country's balance of trade of -$20 million shows that its

Correct Answer: Option A

Explanation

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