Business

India's services export in July up 7.4% at $ 13.34 billion

PNS

 India's services exports in July rose 7.4 per cent from a year ago to $ 13.34 billion, data from the Reserve Bank showed on Monday.

However, import of services during the month rose marginally by a 3 per cent from a year ago to $6.82 billion, said the data on International Trade in Services.

The cumulative receipts (or exports) in services during April-July stood at $53.96 billion, while cumulative payments (or imports) were at $30.09 billion. Services export in 2013-14 stood at 167.01 billion, while imports were at $ 88.19 billion.

The services sector contributes about 55 per cent to country's gross domestic product. The monthly data on services are provisional and undergoes revision when the Balance of Payments (BoP) data are released on a quarterly basis.