March 2023 services exports at USD 30.48 bn, imports at USD 16.27 bn – RBI releases data

March 2023 services exports data: Despite global headwinds, India’s goods and services exports showed significant growth. The country’s services exports rose 13.1 per cent on year to USD 30.48 billion (Rs 30,478 crore) in March while imports recorded a growth of 6 per cent to USD 16.27 billion (Rs 16,272 crore), a provisional data published by the Reserve Bank of India on Tuesday showed.
As per the government’s preliminary estimates released in mid-April, the country’s services exports in March were $27.75 billion, while services imports were $14.05 billion. In February, the services exports were $29.15 billion while imports were $14.55 billion.

The country’s merchandise and services exports were up nearly 14 per cent on the year to $770.18 billion in the last fiscal year that ended on March 31, 2023 while imports were up 17.4% to $892.18 billion during the period.

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