Services Exports Down 0.8% in December; Imports Rise 3.4%.

India's services exports fell marginally by 0.8 per cent to $11.18 billion in December, over the previous month, according to the Reserve Bank data.

The country's total receipts from services export were $11.28 billion in November, RBI data showed.

Import of services, however, rose 3.4 per cent during December to $7.65 billion, compared to $7.40 billion in November.

Overall, the services sector contributes over 55 per cent of India's GDP.

During the April-December period of this fiscal, the country's cumulative exports of services amounted to $101.78 billion. Imports, meanwhile, stood at $62.61 billion during the first nine months of 2011-12.

RBI has, since this financial year, started releasing provisional aggregate monthly data on India's international trade in services, with a lag of 45 days.

For the first time, the data for April this year was released on June 15.

This provisional data will undergo a revision once the Balance of Payments (BoP) data is compiled on a quarterly basis, which will be released with a lag of a quarter, the apex bank said.

Source : ndtv.com