HomeEconomy NewsIndia's services exports fall 10.24% in May

India's services exports fall 10.24% in May

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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By PTI July 16, 2020, 12:00:07 AM IST (Published)

India's services exports fall 10.24% in May
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.


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.

"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- -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.
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