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Goods and services supplied for reward to persons in other countries, for which payment is generally due in the currency of the supplier. This obliges the purchaser to arrange payment in that currency, to the immediate benefit of the vendor and the ultimate benefit of his country’s balance of payments. Exports are classified as visible or invisible, the former being goods and the latter services, such as banking, shipping facilities, etc. The U.K. traditionally depends considerably on invisible exports in balancing international payments.

Reference: The Penguin Business Dictionary, 3rd edt.