| Date: |
16-10-2012 |
| Subject: |
Services exports down 4% at $11.4 bn in August |
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The country's services exports in August stood at $11.4 billion, down 4.3 per cent from a year earlier, Reserve Bank of India data showed Monday.
The total exports of services in August 2011was at $11.8 billion, as per the RBI data.
Imports of services in August by fell by 3.7 per cent to $6.6 billion compared to $6.8 billion a year earlier. The services sector contributes about 55 per cent to the country's gross domestic product.
During April-August of 2012-13, the cumulative services receipt or exports has amounted to $55.8 billion, showed the RBI data.
Services outgo or imports stood at $33.6 billion in the first five months of the fiscal.
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 would undergo revision when the Balance of Payments data are released on a quarterly basis.
Source : profit.ndtv.com
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