June services exports at $12.35 bn; down 3.5% from May

India's services exports in June this year stood at USD 12.35 billion, down 3.5 per cent from the preceding month, Reserve Bank data showed today. The total exports of services in May 2013 stood at USD 12.80 billion.

Imports of services also moved down to USD 6.22 billion in June from USD 6.98 billion in the previous month. The services sector contributes about 55 per cent to the country's gross domestic product.

During April-June period of financial year 2013-14, the cumulative services receipt or exports amounted to USD 37.99 billion.Total services outgo or imports stood at USD 20.58 billion during the first three months of the current financial year. RBI releases the provisional aggregate monthly data on India'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.

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