Services exports down 5.8% in July; imports fall 18.2%
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Services exports down 5.8% in July; imports fall 18.2%

Last Updated: Thursday, September 15, 2011, 14:42
 
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Services exports down 5.8% in July; imports fall 18.2%
 
Mumbai: India's services exports in July were worth USD 10.40 billion, a fall of 5.8 percent compared to June.
    
The country's total receipts from services exported were USD 11.04 billion in June, 2011, according to data released by the Reserve Bank today.
    
Imports of services also fell 18.2 percent in July to USD 5.89 billion, compared to USD 7.20 billion in June.     
Overall, the services sector contributes over 50 per cent to India's GDP.
    
During the April-July period this fiscal, the country's cumulative exports of services amounted to USD 44.74 billion.
    
Imports of services, meanwhile, stood at USD 27.07 billion during the first four months of 2011-12.
    
RBI has recently started releasing provisional aggregate monthly data on India's international trade in services, with a lag of 45 days.
    
For the first time, the data for April, 2011 was released on June 15.
    
This provisional data will undergo a revision once the Balance of Payments (BoP) data is compiled on a quarterly basis, which will be released with a lag of a quarter, the apex bank said.
 
PTI
 



First Published: Thursday, September 15, 2011, 14:42


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