What term is used for the comprehensive measure that includes both visible and invisible exports and imports?

The comprehensive measure that includes both visible and invisible exports and imports is referred to as the balance of payments. This term encompasses all economic transactions between residents of a country and the rest of the world over a specific period, accounting for trade in goods and services (visible exports and imports) as well as financial transactions (invisible exports and imports such as tourism and investment income).

The balance of payments provides a complete picture of a country's economic interactions and is essential for understanding its economic health and position in the global economy. This document helps to analyze how much money is flowing into and out of a country, highlighting areas of surplus and deficit.

In this context, other terms do not capture the full scope of these transactions as the balance of payments does. For instance, net trade typically refers to the difference between exports and imports, focusing only on visible transactions, and trade balance similarly only considers goods and services. Gross Domestic Product measures the overall economic output within a country, but it does not specifically account for international trade flows.