BANKING AFFAIRS

Detailed explanation-1: -In balance of payment, invisible exports refers to the export of services which a domestic country exports to the outside world. These services are regarded as invisible owning to their nature as they are intangible.

Detailed explanation-2: -Invisible export means export of services. A part of international trade, invisible export is a type of export which does not involve trading of goods or commodities instead it involves the service sector like insurance, banking, consultancy, etc.

Detailed explanation-3: -Invisible exports are services provided to people living abroad; ‘visible’ exports are the physical goods sold abroad.

Detailed explanation-4: -invisible trade, in economics, the exchange of physically intangible items between countries. Invisible trade can be distinguished from visible trade, which involves the export, import, and reexport of physically tangible goods.

Detailed explanation-5: -Invisible trade refers to an international transaction which does not involve tangible goods, but services, such as consultancy services, insurance, banking, intellectual property, international tourism, etc. In other words, it is the import and export of services between countries.