What is considered as “invisible exports” in economic terms?

Invisible exports refer to services exported to foreign clients rather than tangible goods. In economic terminology, these include various non-physical products such as tourism, financial services, education, and consulting services, which generate income from foreign markets. The term "invisible" contrasts with "visible exports," which pertain to goods that can be physically seen and counted.

The significance of invisible exports lies in their contribution to a nation's GDP and trade balance, as they can enhance economic growth without requiring the physical transportation of goods. The services provided often leverage a country's skills or resources, resulting in revenue without the complexities associated with shipping and tariffs.

This understanding emphasizes the role of the service sector in a modern economy and highlights the importance of service-based transactions in international trade.