1.   Trade gap narrows despite cut in invisible earnings.

2.   Such earnings are little appreciated outside the specialist areas of business such as finance and insurance which directly contribute to invisible earnings.

3.   To many, invisible earnings are often just associated with the banking and other financial and insurance services provided by institutions in the City of London.

4.   The invisible earnings from the music industry -- royalties and performance fees -- have been estimated to greatly exceed income from physical exports.