Service exports grow by 7.7% in May FY24: RBI

During the same period, services imports increased by 2% to US$ 15.5 billion

July 4, 2023

In terms of value, service exports reached US$ 27.06 billion

In mid-June, the government's initial preliminary estimates indicated that services exports amounted to US$ 25.3 billion

Services imports were reported at US$ 13.53 billion for mid-June

The figures provided by the Reserve Bank of India (RBI) are provisional and subject to further updates

India’s services exports in May FY24 recorded a year-on-year growth of 7.7%, reaching US$ 27.06 billion, according to provisional data released by the Reserve Bank of India on Monday. During the same period, services imports increased by 2% to US$ 15.5 billion.

In mid-June, the government’s initial preliminary estimates indicated that services exports amounted to US$ 25.3 billion, while services imports were reported at US$ 13.53 billion.
It’s important to note that the figures provided by the RBI are provisional and subject to further updates. The final numbers are typically published quarterly as part of India’s comprehensive balance-of-payments data.

Source: Economic Times

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