Services exports up 3.2% in May, imports rise 2.8%
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India's services exports stood at $11.83 billion in May, 2011, up almost 3.2% in comparison to April. The country's total receipts from services exported stood at $11.46 billion in April, 2011, the Reserve Bank said in a statement. During the April-May period this fiscal, the country's cumulative exports of services amounted to $23.30 billion. Imports of services, meanwhile, stood at $13.97 billion 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.(BS)
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