Does self-employment income count as foreign earned income if the business is outside of the United States?

My wife (who qualifies as a resident alien) runs a business outside of the United States. Last year, I filed it as Self-employment income, but since the business is outside of the United States, I'm beginning to think I should have just filed it as foreign earned income. Do I need to go through the whole self-employment tax filing if the business is performed in another country?