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Services exports down 7% in June, imports rise 2%

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Press Trust of India Mumbai
Last Updated : Jan 20 2013 | 11:53 PM IST

India's services exports in June 2011, stood at $11 billion, a fall of 7% month-on-month in comparison to May.

The country's total receipts from services exported stood at $12 billion in May, 2011, the Reserve Bank said in a statement.

Imports of services, however, were up over 1.6% month-on-month in June to $7 billion, compared to $7 billion in May, as per the statement.

The services sector contributes over 50% to India's GDP.

During the first quarter (April-June) this fiscal, the country's cumulative exports of services amounted to $34 billion.

Imports of services, meanwhile, stood at $21 billion during the first three months of 2011-12.

The RBI recently 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, 2011, was released on June 15.

This provisional data will undergo a revision once 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.

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First Published: Aug 12 2011 | 2:27 PM IST

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