Latest News | India's Services Exports Dip 10.24 Pc in May

New Delhi, Jul 15 (PTI) India's service sector exports dipped by 10.14 per cent to USD 16.77 billion in May, RBI data showed on Wednesday.

Services payments or imports in May stood at USD 9.94 billion, down 20.45 per cent, according to the central bank data.

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The Reserve Bank releases monthly data on India's international trade in services with a lag of around 45 days.

The monthly data on services are provisional and undergo revision when the Balance of Payments (BoP) data are released on a quarterly basis.

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"Exports in May 2020 were USD 16.77 billion (Rs 1,26,851.39 crore) registering a negative growth of (-) 10.24 per cent in dollar terms, vis-à-vis May 2019. The estimated value of services export for June 2020 is USD 16.48 billion," it said.

During the April-May period, service sector exports stood at USD 33.22 billion, while imports were USD 19.24 billion.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)