India's services exports in May this year remained nearly flat at $13.46 billion compared to the same month of last year, data from Reserve Bank showed on Friday. The services exports, or receipts from such services, were of the order of $13.43 billion in May 2016. However, services imports by India rose by 4 per cent to $7.92 billion during the month under review from $7.62 billion a year ago. During the first two months (April-May) of the current fiscal, the total receipts from services exports stood at $26.37 billion.
It was only slightly up from $ 26.33 billion in the corresponding year-ago period. On the other hand, payments towards services imports during April-May of 2017-18 was at $15.11 billion against $14.41 billion from a year ago. The RBI data is complied from India's International Trade in Services. The central bank publishes the data with a lag of 45 days which is provisional in nature and undergoes revision when the Balance of Payments (BoP) data are released on a quarterly basis.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)