While merchandise trade-deficit has narrowed, led by a sharp fall in imports, services trade-surplus has increased to $16.5 billion in January, compared to $15.5 billion in December, because of a rise in services exports.
The exports were likely supported by higher software services, and professional and management consulting.
However, given the global slowdown and the looming recession, the strong services-export growth could be at some risk of moderation.
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