Data Alert
India services trade surplus narrows to $14.79 bln in Nov
This story was originally published at 18:11 IST on 31 December 2024
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--RBI: India Nov services exports $32.01 bln vs $34.31 bln Oct
--RBI: India Nov services exports $32.01 bln, up 13.9% on year
--RBI: India Nov services imports $17.23 bln vs $17.22 bln Oct
--RBI: India Nov services imports $17.23 bln, up 26.0% on year
--RBI: India Nov services surplus $14.79 bln vs $17.09 bln Oct
NEW DELHI – India's services trade surplus narrowed in November to $14.79 billion from a record high of $17.09 billion in October, according to data released by the Reserve Bank of India on Tuesday.
Services exports rose 13.9% on year to $32.01 billion in November, while imports were up 26.0% at $17.23 billion. Service exports and imports were at $34.31 billion and $17.22 billion in October, respectively.
The central bank releases provisional monthly data on India's services trade. This data may undergo revision when the balance-of-payments data is released on a quarterly basis.
On the merchandise trade front, the goods trade deficit jumped to an all-time high of $37.84 billion last month, thanks to record high imports and a fall in exports, data released on Dec. 16 showed. Goods exports fell 4.8% on year to $32.11 billion in November, while imports jumped 27.0% to an all-time high of $69.95 billion.
India's current account deficit widened to $11.16 billion in Jul-Sept, according to data released Friday by RBI. The current account fell into a deficit of $10.22 billion in Apr-Jun, having posted a surplus of $4.59 billion in Jan-Mar. End
US$1 = INR 85.62
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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