Country’s services receipt rises 15.5% to $18.68 bn in May

Mumbai: India’s receipts from exports of services rose 15.5 per cent to $18.68 billion in May this year, data from the Reserve Bank of India showed.

In May last year, the receipts from services exports by India had stood at $16.17 billion.

Compared sequentially, the services exports during the month were up by 3.4 per cent from $18.06 billion in April 2019. The outgo towards payment of services (imports) rose by 22.4 per cent to $12.49 billion in May this year, as against a year ago’s $10.21 billion.

On a month-on-month basis, the services imports in May rose by 9.6 per cent from $11.4 billion in April 2019, as per the RBI monthly data on “India’s International Trade in Services”.

Agency