India's services exports flat at $13.5 billion in May, imports up 4%

Services exports, or receipts from such services, were of order of $13.43 billion in May 2016

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.