India services export up 5.9% in February, import up marginally

Posted by Daily Shipping Times on 19-04-2017        Tweet

MUMBAI: Export of services grew by 5.9 per cent year-on-year to $13.06 billion in February 2017, the RBI data released showed. Services export was worth $12.33 billion in the corresponding month a year ago. The import of services also increased marginally to $7.24 billion during the month, from $7.19 billion in February 2016, the RBI data on International Trade in Services showed.

In January 2017, the services export of India stood at $13.57 billion, while import was worth $8.41 billion. The services sector contributes about 55 per cent to India's gross domestic product.

The data which comes with a lag of 45 days is provisional and undergoes revision when the Balance of Payments (BoP) data is released on a quarterly basis.