Services exports fell by 4.6 per cent to $12.78 billion in July this year, Reserve Bank data showed today.
The exports were at $13.39 billion in July, 2015.Import of services also declined by 1.2 per cent to $7.41 billion in July 2016, compared to $7.5 billion in the same month a year ago. The data is based on RBI’s compilation on International Trade in Services. On cumulative basis, total services exports were of the order of $52.47 billion during April-July. Services sector contributes about 55 per cent to the country’s gross domestic product. RBI releases the provisional aggregate monthly data on India’s international trade in services with a lag of 45 days. Monthly data on services are provisional and undergoes revision when the Balance of Payments (BoP) data are released on a quarterly basis.