Services export up 13% at $13.46 bn in May, imports at $7.9 bn

By: |
Mumbai | July 15, 2016 9:55 PM

Services export rose by 13.4 per cent to $13.46 billion in May this year, the Reserve Bank data showed today.

RBIThe RBI data is provisional and undergoes revision when the Balance of Payments (BoP) data is released on a quarterly basis. (PTI)

Services export rose by 13.4 per cent to USD 13.46 billion in May this year, the Reserve Bank data showed today.

The services export in May 2015 was at USD 11.87 billion. In the preceding month of April, the export stood at USD 12.91 billion.

Also, services import in May 2016 increased by 25.4 per cent at USD 7.9 billion compared to USD 6.32 billion in the year-ago month.

Services import in preceding month (April 2016) was tad down at USD 7.18 billion.

The figures are based on RBI data on International Trade in Services for May 2016.

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

The RBI data is provisional and undergoes revision when the Balance of Payments (BoP) data is released on a quarterly basis.

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