Service imports increase 5.25 percent to $ 17.70 billion

Imports Service Increase

Service imports Increase 5.25 percent to $ 17.70 billion.

Mumbai . Services exports from the country rose 5.25 percent to $ 17.70 billion in October. During this period, services imports remained almost flat at $ 10.86 billion. The Reserve Bank of India has given this information. October 2018 services exports or receipts stood at $ 16.82 billion. At the same time, the import of services or payment to services abroad was $ 10.10 billion. In September, services exports were $ 17.54 billion and imports were $ 11.10 billion. India is one of the major economies of the world that contributes to the global service export industry. The services sector accounts for about 55 percent of the country's gross domestic product (GDP). The figures published by the Reserve Bank are provisional and are revised when the balance of payments data is released on a quarterly basis.