India's services export in July up 7.4% at USD 13.34bn

India's services exports in July rose 7.4 percent from a year ago to USD 13.34 billion, datafrom the Reserve Bank showed today. However, import of services during the month rosemarginally by a 3 percent from a year ago to USD 6.82 billion, said the data on International Trade in Services.

The cumulative receipts (or exports) in services during April-July stood at USD 53.96 billion, while cumulative payments (or imports) were at USD 30.09 billion. Services export in 2013-14 stood at 167.01 billion, while imports were at USD 88.19 billion. The services sector contributes about 55 percent to country's gross domestic product.

The monthly data on services are provisional and undergoes revision when the Balance of Payments (BoP) data are released on a quarterly basis.