Services exports decline 2.7 pc to USD 28.42 bn in September

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ET OnlineLast Updated: Nov 01, 2023, 09:57 PM IST

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The decline in services imports persisted throughout all three months of the September quarter. However, there was a silver lining in the fact that services exports had seen an increase during July and August.

Declining exports: Commerce ministry to meet exporters on Monday — Representative Image

In September, India's services exports witnessed a year-on-year decline of 2.7 per cent, totaling USD 28.42 billion, according to the Reserve Bank of India. Simultaneously, services imports also saw a significant decrease, with a sharper decline of 10.3 percent, reaching approximately USD 14.59 billion.

Notably, the decline in services imports persisted throughout all three months of the September quarter. However, there was a silver lining in the fact that services exports had seen an increase during July and August.

These statistics indicate a fluctuating trend in India's services trade, with challenges and opportunities on the horizon, reflecting the dynamic nature of the global economic landscape.

(With inputs from PTI)

Wednesday, 01 Nov, 2023

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