India's July services exports at $12.94 b

India's July services exports at $12.94 b

India’s services exports in July 2013 stood at $12.94 billion, up 4.8 per cent from the previous month, according to Reserve Bank data.

The total exports from services in June 2013 stood at $12.35 billion, as per the data.
Imports of services also moved up to $6.62 billion in July from $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 $50.93 billion.

Total services outgo or imports stood at $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.