Services exports up by 5% to $17.70 bn, imports flat at $10.86bn: RBI data

India's services exports rose 5.25 per cent to $ 17.70 billion in October, while imports remained nearly flat at $10.86 billion, data from the Reserve Bank of India showed on Friday.

The services exports or receipts were $16.82 billion in October 2018, while the imports or payments were worth $10.10 billion.

In September, the exports of services were worth $17.54 billion and the imports were of the order of USD 11.10 billion, showed the RBI data on India's International Trade in Services.

India is one of the major economies contributing to the world services export industry. The services sector contributes to about 55 per cent in India's gross domestic product.

The data for the latest month comes with a lag of 45 days. The data published by the RBI is provisional and undergoes revision when the Balance of Payments data is released on a quarterly basis.