Services exports up 3.2% in May, imports rise 2.8%

India's services exports stood at USD 11.83 billion in May, 2011, up almost 3.2% in comparison to April.

The country's total receipts from services exported stood at USD 11.46 billion in April, 2011, the Reserve Bank said in a statement.

Imports of services were also up 2.8% in May at USD 7.08 billion, compared to USD 6.88 billion in April, as per the statement.

During the April-May period this fiscal, the country's cumulative exports of services amounted to USD 23.30 billion. 

Imports of services, meanwhile, stood at USD 13.97 billion during the first two months of 2011-12. 

The RBI last month started releasing provisional aggregate monthly data on India's international trade in services with a lag of 45 days.

For the first time, the data for April, 2011, was released on June 15.

This provisional data will undergo a revision once Balance of Payments (BoP) data is compiled on a quarterly basis, which will be released with a lag of a quarter, the apex bank said.