Carole
You are right, the current ONS publications use "Trade in Goods" and "Trade
in Services". These terms are straightforward - they say exactly what they
mean.
However, in the economics literature visibles and invisibles are still fully
used - so students really need both.
Steve Hurd
----- Original Message -----
From: "Carole WAKEFIELD" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Wednesday, February 06, 2002 8:04 AM
Subject: International trade terminology
For a few years now, since the change in the balance of payments
calculations, I've been encouraging students to use the terms "trade in
goods" and "trade in services" instead of "visibles" and "invisibles".
However, I've noticed that the words "visibles" and "invisibles" have
appeared in some recent publications for students. Are the old terms still
in use?
Carole
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