India's services export in May up 9% at $13.9 billion

Mumbai: India's services exports in May rose by 8.8 percent to USD 13.9 billion, according to the Reserve Bank data.

Import of services during the month, however, rose in double-digit of 15 percent to USD 8.03 billion, as per the RBI data on International Trade in Services.

The cumulative receipts (or exports) in services during April-May stood at USD 27.5 billion, while cumulative payments (or imports) were at USD 16.09 billion.

Services export in 2013-14 stood at 167.01 billion, while imports were at USD 88.19 billion.

The services sector contributes about 55 percent 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.