MUMBAI: India’s services exports in the first month of 2014-15 stood at US $ 13.63 billion, marginally lower than US $ 14.32 billion in March 2014, as per RBI data.
The Reserve Bank’s data on International Trade in Services showed that services import in April 2014 stood at US $ 8.06 billion, also lower than previous month. It was at US $ 8.49 billion in March.
India’s services export in previous fiscal stood at 167.01 billion while services imports in FY’14 were at US $ 88.19 billion. The services sector contributes about 60 per cent to country’s gross domestic product.
The RBI releases the provisional aggregate monthly data on India’s international trade in services with a lag of 45 days. Monthly data on services are provisional and undergoes revision when the Balance of Payments (BoP) data are released on a quarterly basis.