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Services exports fall 4.6 pc to USD 12.78 billion in July

Services exports fell by 4.6 per cent to USD 12.78 billion in July this year, Reserve Bank data showed today.

By: | Mumbai | Published: September 15, 2016 8:22 PM
Import of services also declined by 1.2 per cent to USD 7.41 billion in July 2016, compared to USD 7.5 billion in the same month a year ago. (Reuters) Import of services also declined by 1.2 per cent to USD 7.41 billion in July 2016, compared to USD 7.5 billion in the same month a year ago. (Reuters)

Services exports fell by 4.6 per cent to USD 12.78 billion in July this year, Reserve Bank data showed today.
The exports were at USD 13.39 billion in July, 2015.

Import of services also declined by 1.2 per cent to USD 7.41 billion in July 2016, compared to USD 7.5 billion in the same month a year ago.

The data is based on RBI’s compilation on International Trade in Services.

On cumulative basis, total services exports were of the order of USD 52.47 billion during April-July.

Services sector contributes about 55 per cent to the country’s gross domestic product.

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

Monthly data on services are provisional and undergoes revision when the Balance of Payments (BoP) data are released on a quarterly basis.

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