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

Recent Articles

India’s merchandise exports to reach US$ 500 billion by FY25: FIEO

May 17, 2024

The Federation of Indian Export Organisations (FIEO) projects that the …

Read More

India’s PC market sees 2.6% growth in Q1 2024 driven by govt. procurement

May 16, 2024

Despite challenges, the PC market in India has shown resilience, …

Read More

India-Norway consultations strengthen cooperation ahead of India-Nordic Summit

May 15, 2024

The 11th India-Norway Foreign Office Consultations (FOC) were held on …

Read More