2024-07-07 07:51:40
(Web Desk) Exports of services increased by 7.9 percent in May due to improvement in the information technology sector, the rate of growth is likely to be higher.
According to the report of the Department of Statistics, exports reached 68.791 million dollars, which was 63.754 million dollars in the same month of last year. 191.411 billion, which was Rs. 182.008 billion in the same month last year.
Exports of services reached $7.129 billion in the July-May period of FY 2024, showing a marginal increase of 1.80 percent compared to $7.004 billion in the same period last year.
In rupee terms, exports recorded a sharp improvement of 17.94% to Rs 20 trillion, which was over Rs 1.71 billion in the 11 months of FY 2023. In FY 2023, services exports stood at $7.30 billion. , which was $7.10 billion, or 2.78 percent, of the previous year.
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According to the report of the Ministry of Finance, due to increase in permissible retention limit from 35% to 50% of IT exporters’ export earnings in special foreign currency accounts of exporters, information and communication technology (ICT) exports increased by 17.4%. increased significantly, reaching $2.3 billion during July-March 2024 from $1.9 billion during the same period last year.
Trade deficit in services widened by 136.26% to $2.09 billion in July-May from $88.852 billion in the same months last year. 34.263 crore in the same month of the year.
2024-07-07 07:51:40