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International Trade - Coggle Diagram
International Trade
Balance of Trade
The difference between visible exports and visible imports over a fixed period of time. This figure accounts for just the trade of goods.
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Balance of Payments
The difference between total exports and total imports over a fixed period of time. This figure accounts for trade of both goods and services
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Exports:
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Visible: : Involves the purchase of physical/tangible goods Irish pharmaceutical products sold in EU) 💉
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