Free Press Journal

Service exports rise to USD bn in January


Mumbai: India’s service exports edged up by 2.3 per cent to USD 14.3 billion in January 2015 over the same month a year ago. Service exports during January 2014 stood at USD 13.93 billion, according to RBI data released today. Import of services during the month increased by 7.2 per cent to USD 7.79 billion as against USD 6.27 billion a year earlier.

Total service exports during April-January 2014-15 stood at USD 132.36 billion, while imports during the period were at USD 75.79 billion. Services export in FY 2013-14 stood at 167.01 billion and imports were at USD 88.19 billion. The services sector contributes about 60 per cent to country’s gross domestic product.