India's services export at $12.24 billion in August is same as last year

India’s services exports in August 2014 were almost same from a year earlier at $12.24 billion. The services exports by Indian firms were at $12.31 billion in August 2013. However, import of services during the month rose by 7.5 per cent from to $6.77 billion.

The cumulative receipts (or exports) in services during April-August stood at $66.11 billion, while cumulative payments (or imports) were at $36.87 billion.

Services export in 2013-14 stood at $167.01 billion. While, imports were at $88.19 billion.

The services sector contributes over 55 per cent to country’s gross domestic product.