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Services exports decline slightly in Nov; imports rise to $7.40 bn

16 Jan 2012 Evaluate

Exports of services like software, construction, and transportation from India declined slightly in the month of November to $11.28 billion over the previous month, according to the data released by Reserve Bank of India (RBI). The central bank’s provisional aggregate data on India’s international trade in services, which is released on a monthly basis with a lag of 45 days, showed that the exports stood at $11.45 billion in October.

India’s services sector, which plays a major role in India’s economy as it constitutes about 60 percent of the GDP, saw its imports rise to $7.40 billion in the month under review as against $6.82 billion in October. Thus, services exports during the first eight months of this fiscal stood at around $124 billion, while imports were over $69 billion during the April-November period.

In the first six months of the fiscal, the country’s net foreign inflows from trade in services were at $46.4 billion while merchandise exports in the eight-month period from April-November aggregated to $192.69 billion and imports equaled $309.5 billion.

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