[Willie Green]

if we exported far more services than the value of goods that we imported, but we were still running merchandise trade deficits, than we would be exporting our wealth,

No, then our wealth would be increasing.
Only it would be increasing through the mechanism of wealth transference, not wealth creation.

But that's not what's currently happening is it?
Wealth is being created offshore, and our wealth is diminishing as we accrue debt to import goods.

[lasereye]

if we exported far more services than the value of goods that we imported, but we were still running merchandise trade deficits, than we would be exporting our wealth,

No, then our wealth would be increasing. Only it would be increasing through the mechanism of wealth transference, not wealth creation.

If someone produces food or fuel, such as oil, gas etc., is that adding to wealth?