Term Definition

Import Products brought into a country

Export Products sold out of a country

Visible trade Trade of all goods (cars, coffee etc) that can
be given a value

Invisible trade Trade where services are exchanged but do

not have a clear value

Primary products Raw materials like oil, copper or farm

products e.g. wheat, bananas, rubber

Secondary products Manufactured goods like clothes, cars and

computers

Surplus Where there is too much of a product

Trade bloc Organisations like the European Union and

Mercosur

World Trade Organisation The organisation that promotes free world

trade

Free trade Trade without restrictions

Overdependence Most of the countries exports being just one

or two commodities

Tariff A tax put on imports to protect your own

industries

Trade barrier A limit to the amount of imports of a product

allowed in one year.