<h1>India's May 2008 Exports Rise 12.9% to $13.78B; Imports Up 27.1%, Trade Deficit Widens to $20.64B.</h1> India's exports in May 2008 increased by 12.9% to USD 13,782 million compared to May 2007, with a cumulative growth of 21.7% for April-May 2008. Imports rose by 27.1% in May 2008 to USD 24,548 million, with a cumulative growth of 31.7% for the same period. Oil imports surged by 50.8% in May 2008, while non-oil imports grew by 17.4%. The trade deficit for April-May 2008 was USD 20,640 million, higher than the USD 13,919 million deficit in the same period of the previous year.