ECONOMICS
BALANCE OF TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Bahamas does not import products
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Some are easier and cheaper to make in other countries
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The Bahamas makes all of its own products
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none of the above
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Detailed explanation-1: -A weaker domestic currency stimulates exports and makes imports more expensive; conversely, a strong domestic currency hampers exports and makes imports cheaper.
Detailed explanation-2: -The Bahamas-Foreign trade Exports include pharmaceuticals, cement, rum, crawfish, and aragonite. Imports are primarily composed of foodstuffs, manufactured goods, crude oil, vehicles, and electronics.
Detailed explanation-3: -The Bahamas mainly imports boats, fuel, oil, paintings, iron and steel, vehicles and furniture. The Bahamas’ main imports partners is the United States, accounting for 87 percent of imports.
Detailed explanation-4: -The Bahamas mainly exports fuel, boats, beverages, polymers, shellfish, cyclic compounds, paintings, oil and pebbles. The Bahamas’ main exports partner is the United States, accounting for around 72 percent of total exports.