Quick Reference

Goods or services sold to foreign countries. Export selling may be achieved by using international marketing middlemen (indirect exporting) or by a company's own overseas branch or sales representatives or by a company's agents abroad (direct exporting). In terms of the balance of payments ECGD website, goods are classified as visibles, while such services as banking, insurance, and tourism are treated as invisibles. The UK has traditionally relied on its invisibles to achieve its trade balance as it tends to spend more on imports than it receives in exports. See also Export Credits Guarantee Department.

Subjects: Economics — Business and Management.

Reference entries