India's services export down 13% in Feb at $12.3 bn

India's services export fell by 12.6 per cent in February to USD 12.33 billion over the same month a year ago, the Reserve Bank data showed today.

In February 2015, the services export was at USD 14.09 billion.

Import of services too fell by 8.9 per cent to USD 7.19 billion during the month, as compared with USD 7.89 billion in February 2015, as per the RBI data on International Trade in Services.

The services sector contributes about 55 per cent to country's gross domestic product.

RBI releases the provisional aggregate monthly data on India's international trade in services with a lag of 45 days.

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