India's Jun services exports at $12.35 bn; down 3.5% from May

India's services exports in June this year stood at $12.35 billion, down 3.5% from the preceding month, Reserve Bank data showed today.

The total exports of services in May 2013 stood at $12.80 billion.

Imports of services also moved down to $6.22 billion in June from $6.98 billion in the previous month.

The services sector contributes about 55% to the country's gross domestic product.

During April-June period of financial year 2013-14, the cumulative services receipt or exports amounted to $37.99 billion.

Total services outgo or imports stood at $20.58 billion during the first three months of the current financial year.

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 generally undergo revision when the Balance of Payments (BoP) data is released.