According to Asian Research, India's exports increased 29.6 percent in May to U.S. $9.35 billion compared to $7.22 billion in the same month last year. However, the trade deficit widened to $8.08 billion in the first 2 months of this financial year. Imports grew at 21.67 percent to $13.19 billion as against $10.84 billion in May 2005, while trade deficit grew 12.06 percent to $8.08 billion in April to May 2006. Exports during April to May 2006 rose 28.4 percent to $17.7 billion, while imports increased 22.79 percent to $25.78 billion.