Services Exports Down 5.8 Pc in July; Imports Fall 18.2 pc.

MUMBAI: India's services exports in July were worth $ 10.40 billion, a fall of 5.8 per cent compared to June.

The country's total receipts from services exported were $ 11.04 billion in June, 2011, according to data released by the Reserve Bank today.

Imports of services also fell 18.2 per cent in July to $ 5.89 billion, compared to $ 7.20 billion in June.

Overall, the services sector contributes over 50 per cent to India's GDP.

During the April-July period this fiscal, the country's cumulative exports of services amounted to $ 44.74 billion.

Imports of services, meanwhile, stood at $ 27.07 billion during the first four months of 2011-12.

RBI has recently 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, 2011 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 : economictimes.indiatimes.com