visible balance


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Visible Balance

The aggregate value of a country's exports and imports of goods but not services. The visible balance is a subset of the balance of trade, which is the same thing, but includes services.

visible balance

see BALANCE OF TRADE.
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Spanish trade Percentage change 1994 1995 1996 1997 Export volume (goods) 23.8 8.6 10.5 5.4 Market growth 8.8 7.6 4.6 7.2 Relative prices(a) -5.9 -3.5 3.4 -1.8 Import volume (goods) 14.2 10.6 5.3 6.0 TFE 4.1 4.6 3.3 3.9 Relative prices(b) 4.0 -1.3 -2.1 4.7 Visible balance $bn -19.2 -23.3 -19.8 -16.5 Current account as % GDP -1.4 0.2 0.3 1.9 1998 1999 2000-2005 Export volume (goods) 7.8 7.7 6.1 Market growth 6.8 5.7 6.0 Relative prices(a) 1.4 -1.4 -0.1 Import volume (goods) 7.5 7.2 5.8 TFE 4.1 4.2 3.6 Relative prices(b) -0.2 -0.7 -0.3 Visible balance $bn -18.3 -20.9 -27.4 Current account as % GDP 2.1 1.8 1.5
Japanese trade Percentage change 1993 1994 1995 1996 Export volume(a) -2.1 1.7 3.2 0.8 Market growth 8.7 12.6 10.8 6.7 Relative prices(b) 17.0 5.8 -2.1 -6.6 Relative trend costs(b) 26.2 9.8 7.3 -14.0 Import volume(a) 3.8 13.6 12.5 3.6 Industrial production -4.3 1.2 3.3 2.8 TFE 0.2 1.4 2.4 4.3 Relative prices(c) -14.4 -5.0 -0.4 15.1 Visible balance $bn 120.2 121.0 106.5 61.9 Services balance $bn -43.1 -48.1 -57.4 -62.3 Export growth(d) 8.5 9.6 12.0 3.7 Import growth(d) 3.5 10.5 15.3 6.0 IPD balance $bn 41.2 40.9 45.0 53.6 Current balance $bn 131.6 130.6 111.0 65.8 Current account as % of GDP 3.1 2.8 2.1 1.4 Effective exch.
Spanish trade Percentage change 1993 1994 1995 1996 Export volume (goods) 9.2 23.8 8.6 10.5 Market growth -0.8 8.0 8.8 4.3 Relative prices(a) -6.8 -5.9 -3.5 3.6 Import volume (goods) -6.3 14.2 10.6 5.3 TFE -2.1 4.1 4.2 3.5 Relative prices(b) 10.6 4.0 -1.4 -1.9 Visible balance $bn -19.1 -19.2 -23.3 -19.8 Current account as % GDP -1.1 -1.4 0.2 0.3 1997 1998 1999-2004 Export volume (goods) 5.0 5.1 5.8 Market growth 7.8 6.1 5.7 Relative prices(a) -1.6 0.7 -0.4 Import volume (goods) 5.8 6.4 5.8 TFE 3.7 3.9 3.6 Relative prices(b) 4.5 1.0 -0.4 Visible balance $bn -19.3 -22.7 -30.8 Current account as % GDP 1.6 1.8 1.6

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