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Visible Import and Exports
Visible imports and exports refer to tangible commodities. That is, they are commodities that can be seen and touched. Some of the Nigerian visible exports are cocoa, petroleum cotton while our visible imports are cars, electronics, generators, etc.
Invisible Imports and Exports
Invisible exports and imports refer to services. These can neither be seen nor touched, that is why they are called invisible. The invisible exports of a country are the services which the country renders to other countries. The country receives the exports of visible goods. The country pays for these services just as it pays for imports or commodities. Some of these services are shipping, insurance, banking, tourism, travel services, etc.
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