Services exports down 5.6% in sept

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Services exports down 5.6% in Sept

 

 

India's services exports fell by 5.6 per cent year-on-year to $11.22 billion in September, according to the Reserve Bank of India.

The country's total receipts from services exported stood at $11.89 billion in August, RBI data said. Imports of services also fell marginally by 0.8 per cent in September to $6.80 billion, compared to $6.86 billion in August.

Overall, the services sector contributes over 50 per cent of India's GDP.

During the April-September period this fiscal, the country's cumulative exports of services amounted to $67.87 billion.

Imports, meanwhile, stood at $40.73 billion during the first six months of 2011-12.

The RBI has since this financial year started releasing provisional aggregate monthly data on India's international trade in services, with a lag of 45 days. For the first time, the data for April this year was released on June 15.

This provisional data will undergo a revision once the Balance of Payments (BoP) data is compiled on a quarterly basis, which will be released with a lag of a quarter, the apex bank said.

SOURCE: financialtimes.com

Replies (1)

Very Nice Article Gautam Ji Keep Sharing these types of Articles and also i wish to convey that this is very crucial time for Indian Economy, but our politicians are not bother about these things they only think about their own wealth.Hope CA Club members will not join these types of drama's and help in growth of Economy.

 

 


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