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Services exports slip 1.57% to $13.17 bn in July

Press Trust of India  |  New Delhi 

India's services contracted by 1.57 per cent to USD 13.17 billion in July this year, according to the Reserve data.

Services too recorded a negative growth. It declined by 1.65 per cent to USD 7.33 billion.

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

As per the RBI, "the trade balance in services ( net export of services) for July was estimated at USD 5.84 billion.

The RBI data is provisional and undergoes revision when the Balance of Payments (BoP) data is released on a quarterly basis.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 15 2017. 21:02 IST