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India’s services exports in June 2011 stood at $11.04 billion, a fall of 6.7 per cent month-on-month in comparison to May.
The country’s total receipts from services exported stood at $11.83 billion in May 2011, the Reserve Bank of India said in a statement.
Imports of services, however, were up over 1.6 per cent month-on-month in June to $7.25 billion compared with 7.08 billion in May, as per the statement.
The services sector contributes over 50 per cent to India’s GDP.
During the first quarter (April-June) this fiscal, the country’s cumulative exports of services amounted to $34.34 billion. Imports of services, meanwhile, stood at $21.18 billion.
The RBI 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 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.
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