When I export a “.wma” file the file is as large or larger than a “.wav” file. Can I somehow set Audacity to export the .wma file in a compressed format?
Which Audacity do you have?
I have 1.3.6 (Beta).
This post sounds familiar. Did you post this twice?
The original file is almost certainly not a WAV file. Those are huge and they always get smaller. Right click > Properties > audio Properties or Summary to find out what you really have.