India's services exports surge 8.4% in August 2023: RBI data
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The Reserve Bank of India (RBI) in its monthly data report on ‘India’s International Trade in services’ has showed that India's services exports surged 8.4% year-on-year to $28,719 million in August 2023, while imports of services during August 2023 fell 0.8% to $15,103 million.
The RBI’s report further noted that services exports of the country were up 8.1% at $26,228 million in July 2023, 3.3% up in June 2023 at $27,796 million, 7.4% up in May 2023 at $26,997 million and 7.2% up in April 2023 at $25,781 million.
As per the report, imports of services during July 2023 were 2.2% down at $13,754 million, in June 2023 down by 1.0% at $15,609 million. However, in May 2023, imports of services were up 4.5% at $15,881 million. Meanwhile, the data for July-August are provisional while those for April-June are revised on pro-rata basis using balance of payments statistics of Q1:2023-24 released on September 28, 2023.
