India's July services exports at USD 12.94 bn

Written by Press Trust of India | Mumbai | Updated: Sep 14 2013, 03:54am hrs
India's services exports in July 2013 stood at USD 12.94 billion, up 4.8 per cent from the previous month, according to Reserve Bank data released today.

The total exports from services in June 2013 stood at USD 12.35 billion, as per the data.

Imports of services also moved up to USD 6.62 billion in July from USD 6.22 billion in the previous month.

The services sector contributes about 55 per cent to the country's gross domestic product.

During April-July period of financial year 2013-14, the cumulative services receipt or exports has amounted to USD 50.93 billion.

Total services outgo or imports stood at USD 27.20 billion during the first four months of the current financial year.

RBI releases the provisional aggregate monthly data on India's international trade in services with a lag of 45 days.

The monthly data on services are provisional and generally undergo revision when the Balance of Payments (BoP) data are released on a quarterly basis.