GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Invisible export means export of
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services
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prohibited goods
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restricted goods
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goods as per OGL list
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Explanation:
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.
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