The China Glass Network provides an overview of international trade, distinguishing between visible (tangible) and invisible (intangible) trade. Visible trade refers to the import and export of physical goods, such as raw materials, manufactured products, and other tangible commodities. Since these goods are physically present and can be seen, their movement across borders is termed "visible trade." In international commerce, a wide variety of tangible goods exist, and to standardize data collection and analysis, the United Nations Secretariat introduced the "United Nations Classification of International Trade Standards" in 1950. This classification was later updated in 1960 and 1974. The 1974 revision divided global trade into ten broad categories, with subcategories including 63 chapters, 233 groups, 786 subgroups, and 1,924 basic items. These categories include food and live animals, beverages and tobacco, non-edible raw materials, fossil fuels, animal and vegetable oils, chemicals, manufactured goods, machinery and transport equipment, miscellaneous products, and base products. Typically, goods classified under categories 0 through 4 are considered primary products, while those in categories 5 through 8 are categorized as finished or manufactured goods. In contrast, invisible trade refers to the exchange of non-physical services and intangible assets, such as transportation, insurance, licensing, and financial services. It includes expenses related to the import and export of goods, such as shipping, insurance, and handling fees, as well as other income and expenditures not directly tied to physical trade, like international travel, diplomatic costs, remittances, patent royalties, and foreign investment returns. Income from these activities is known as "invisible exports," while the corresponding expenses are called "invisible imports." Unlike visible trade, which is recorded in customs statistics, invisible trade is not tracked by customs but is instead reflected in a country's balance of payments. This distinction is crucial for understanding the full scope of a nation’s economic interactions on the global stage.
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