WAEC - Commerce (2012 - No. 11)
Which of the following is classified as invisible item in balance of payment?
import of goods
Salaries of expartriates
Export of groundnuts
Sale of equipment
Magyarázat
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, salaries of expatriates and patent license revenues.