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

MUMBAI: India's services exports stood at $ 11.83 bn in May, 2011, up almost 3.2 per cent in comparison to April.

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

Imports of services were also up 2.8 per cent in May at $ 7.08 bn, compared to $ 6.88 bn in April, as per the statement.

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

Imports of services, meanwhile, stood at $ 13.97 bn 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.