India's exports up by 13% in May

New Delhi, Jul 1 (UNI)India's exports grew by 12.9 per cent in May to 13.78 billion dollar but with imports clocking a 27.1 per cent growth to 24.54 billion dollar, the country trade deficit in the month stood at 10.76 billion dollar.

The May 2008 export growth was over 12.21 billion dollar worth exports in same month last year. Imports in May 2007 were valued at USD 19.31 billion, government data released today said.

Exports during April-May in the current fiscal stood at 28.18 billion dollar, up 21.7 per cent from 23.16 billion dollar during the comparable period of previous financial year, while imports in the first two months of the 2008-09 fiscal rose by 31.7 per cent to 48.82 billion dollar from 37.08 billion dollar in April-May, 2007.

The country's oil imports in May stood at 8.46 billion dollar, up 50.8 per cent from 5.61 billion dollar in the year-ago period.

The growth in the two-month period of April-May was 48.5 per cent at 16.49 billion dollar, compared to 11.10 billion dollar recorded in April-May of 2007, the data added.

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