What r the visible & invisible items of exports & imports?
EXPORTS
Goods and services sold to foreigners by UK firms. The money received will enter into the UK.
VISIBLE EXPORTS
Actual goods which are sold to foreigners by UK firms e.g. tables, TV’s, vehicles.
INVISIBLE EXPORTS
Services which are sold to foreigners by UK firms e.g. banking, insurance, tourism
IMPORTS
Goods and services bought by UK residents and firms from foreigners. The money paid will leave the UK and go into the foreign country.
VISIBLE IMPORTS
Actual goods and services bought by UK residents or firms e.g. tables, vehicles etc
INVISIBLE IMPORTS
Services bought by UK residents and firms e.g. banking and tourism.