SME Times News Bureau | 17 Jun, 2013
Services exports for April 2013 stood at USD 12.84 billion, up 22.5 per cent over $10.48 billion reported in corresponding period of last fiscal, according to data released by Reserve Bank of India.
RBI data shows that during 2012-13 fiscal the services receipt amounted to USD 133.43 billion while imports of services were valued at USD 80.49 billion during 2012-13 (April-March).
Import of services (payments) in April 2013 stood at USD 7.38 billion versus USD 6.51 billion a year earlier.
The services sector contributes about 55 per cent to the country's Gross Domestic Product. And it has emerged as a prominent sector in terms of its contribution to national and states' incomes, trade flows, FDI inflows and employment.
RBI releases the provisional aggregate monthly data on the country's international trade in services with a lag of 45 days.
The monthly data on services are provisional and generally undergo revision when the Balance of Payments (BoP) data is released on a quarterly basis.