New Delhi: India's exports grew by 20.18 percent to 28.86 billion dollars in May this year as compared to the same period of last year. Exports during May 2017 were valued at 24.01 billion dollars.

Petroleum products, engineering goods, handloom products, drugs, and pharmaceuticals have shown a high export growth rate.

According to data released by Ministry of Commerce, the cumulative value of exports for the month of April and May during the current fiscal was over 54 billion dollars as against 48.65 billion dollars registering a growth of around 13 percent over the same period of last year.

Non-petroleum, non-gems and jewelry exports during May 2018 were valued at around 20 billion dollars as compared to around 18 billion dollars during May 2017, exhibiting a positive growth of around 14 percent.

The Ministry said, imports during May this year were valued at 43.48 billion dollars which were 14.85 percent higher than the imports in May last year.

As per data, the trade deficit widened to 28.34 billion dollars in the two months of this fiscal as compared to 27.09 billion dollars during the same period of the previous fiscal.