Jan service exports ease to $12.6 bn, imports fall 12 pc

India's service exports in January declined to USD 12.57 billion from a year earlier whereas imports shrank to USD 6.84 billion, RBI said today.

In percentage terms, service exports were down 11.77 per cent and imports 12.16 per cent, respectively.

For April-January of this fiscal, the exports came in at a cumulative USD 129.91 billion while the imports stood at USD 70.62 billion.

Services contribute about 55-60 per cent of India's GDP and attract high foreign inflows.