Balance of payments (BOP) is the difference between the money coming into a country and the money going out over a certain period of time. It provides a record of all the economic international transactions of the country, including foreign investment, the transfer of money and both visible and invisible trade. If a country has received money, this is known as a 'credit', and if the country has paid or given money, this is referred to as a 'debit'.
Visible trade refers to the exchange of physical products between countries, for example cars, clothing, electronic equipment, machinery, raw materials and food. These are known as 'visible imports' if the goods are brought into the country and 'visible exports' if they are sold to another country.
Wholesale trade refers to wholesalers who buy goods at cost price from producers and sell them in small quantities at wholesale prices. Retail trade refers to retailers who buy products from wholesalers or manufacturers and sell them in small quantities at retail price to consumers.
International trade is important for most free-market and mixed economies and represents a significant part of the GDP. It can either export (sell goods or services abroad) or import (buy goods and services from other countries).
Invisible trade refers to the exchange of services between countries. Examples include insurance, banking, tourism and education. They can be invisible imports or invisible exports.
• storage • transport • banking • insurance
• technological support
• communication and marketing
Home Trade refers to trade within a single country International Trade refers to trade between different countries
Balance of trade (BOT) refers to the difference between total exports and imports over a certain period of time. If a country imports more than it exports, it will have a trade deficit or trade gap. If it exports more than it imports, it has a trade surplus. Usually, developed countries have a trade surplus and developing countries have a trade deficit. A trade surplus allows a country's economy to grow, while a trade deficit makes a country poorer.
Use this side of the card to provide more information about a topic. Focus on one concept. Make learning and communication more efficient.
BOT
BOP
Title
INVISIBLE TRADE
VISIBLE TRADE
HOME TRADE
TRADE
INTERNATIONAL TRADE
SERVICES TO TRADE
Write a brief description here
Home Trade refers to trade within a single country International Trade refers to trade between different countries
Vanessa Montisci
Created on September 18, 2025
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Transcript
Balance of payments (BOP) is the difference between the money coming into a country and the money going out over a certain period of time. It provides a record of all the economic international transactions of the country, including foreign investment, the transfer of money and both visible and invisible trade. If a country has received money, this is known as a 'credit', and if the country has paid or given money, this is referred to as a 'debit'.
Visible trade refers to the exchange of physical products between countries, for example cars, clothing, electronic equipment, machinery, raw materials and food. These are known as 'visible imports' if the goods are brought into the country and 'visible exports' if they are sold to another country.
Wholesale trade refers to wholesalers who buy goods at cost price from producers and sell them in small quantities at wholesale prices. Retail trade refers to retailers who buy products from wholesalers or manufacturers and sell them in small quantities at retail price to consumers.
International trade is important for most free-market and mixed economies and represents a significant part of the GDP. It can either export (sell goods or services abroad) or import (buy goods and services from other countries).
Invisible trade refers to the exchange of services between countries. Examples include insurance, banking, tourism and education. They can be invisible imports or invisible exports.
• storage • transport • banking • insurance • technological support • communication and marketing
Home Trade refers to trade within a single country International Trade refers to trade between different countries
Balance of trade (BOT) refers to the difference between total exports and imports over a certain period of time. If a country imports more than it exports, it will have a trade deficit or trade gap. If it exports more than it imports, it has a trade surplus. Usually, developed countries have a trade surplus and developing countries have a trade deficit. A trade surplus allows a country's economy to grow, while a trade deficit makes a country poorer.
Use this side of the card to provide more information about a topic. Focus on one concept. Make learning and communication more efficient.
BOT
BOP
Title
INVISIBLE TRADE
VISIBLE TRADE
HOME TRADE
TRADE
INTERNATIONAL TRADE
SERVICES TO TRADE
Write a brief description here