The invisible balance or balance of trade on services is that part of the balance of trade that refers to services and other products that do not result in the transfer of physical objects. Examples include consulting services, shipping services, tourism, and patent license revenues. This figure is usually generated by tertiary industry. The term 'invisible balance' is especially common in the United Kingdom.
For countries that rely on service exports or on tourism, the invisible balance is particularly important. For instance the United Kingdom and Saudi Arabia receive significant international income from financial services, while Japan and Germany rely more on exports of manufactured goods.
Read more about Invisible Balance: Types of Invisibles, Balance of Payments and Invisibles, Balance of Payments Problems and The Invisible Balance
Famous quotes containing the words invisible and/or balance:
“The past is only the present become invisible and mute; and because it is invisible and mute, its memoried glances and its murmurs are infinitely precious. We are tomorrow’s past.”
—Mary Webb (1881–1927)
“Partisanship should be kept out of the pulpit.... The blindest of partisans are preachers. All politicians expect and find more candor, fairness, and truth in politicians than in partisan preachers. They are not replied to—no chance to reply to them.... The balance wheel of free institutions is free discussion. The pulpit allows no free discussion.”
—Rutherford Birchard Hayes (1822–1893)