Question 38
Foreign TradeWhich of the following is an invisible export of Nigeria?
- A.Shipping services Nigeria renders to Russia
- B.Nigeria's crude oil to London
- C.banking services rendered to Americans resident in Nigeria
- D.Stockfish from Germany to Nigeria
- E.Nigeria's groundnut to Egypt.
Show the answer and explanation
Answer: A (Shipping services Nigeria renders to Russia)
Explanation
An invisible export is a service sold to another country that brings in foreign money; shipping services sold to Russia are such a service.