India's service exports increase by 20.2% in July to $23.26 billion

2 Sep 2022 , 08:10 AM

According to Reserve Bank statistics issued on Thursday, India’s exports of services climbed by 20.2% year over year to USD 23.26 billion in July. However, July’s exports fell short of June’s total of USD 25.29 billion in this fiscal year.

According to monthly data on India’s foreign service trade for July 2022, imports increased by 22.3% to USD 13.92 billion in July. The value of imports in June was USD 15.76 billion. Between April and July 2022—2023, there were 94.75 billion USD in exports and 58.94 billion USD in imports.

The Balance of Payments (BoP) figures are issued on a quarterly basis, and the monthly data on services are considered tentative and are likely to be revised at that time.

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