The country's trade deficit is expected to hit nearly 7 billion USD inthe first seven months of the year, accounting for 19.8 percent of totalexport revenue, according to VietnamGeneral Department of Customs.
Export revenue in the first seven months of the year reached 35.21billion USD, an increase of 18.2 percent compared to the same periodlast year, while import revenue was 42.2 billion USD, a year-on-yearincrease of 28.5 percent.
The trade deficit in the firsthalf of July reached 690 million USD, much higher than the same periodof last May and June. The country earned 2.72 billion USD from exports,but spent 3.41 billion USD for imports.
The trade deficitfrom July onwards is usually higher than previous months becauseenterprises will import more materials for production to prepare for theyear-end season, according to economists.
To narrow thetrade deficit in the remaining months of the year, experts said theGovernment should impose drastic measures to control imports,particularly products that local companies can make./.
Export revenue in the first seven months of the year reached 35.21billion USD, an increase of 18.2 percent compared to the same periodlast year, while import revenue was 42.2 billion USD, a year-on-yearincrease of 28.5 percent.
The trade deficit in the firsthalf of July reached 690 million USD, much higher than the same periodof last May and June. The country earned 2.72 billion USD from exports,but spent 3.41 billion USD for imports.
The trade deficitfrom July onwards is usually higher than previous months becauseenterprises will import more materials for production to prepare for theyear-end season, according to economists.
To narrow thetrade deficit in the remaining months of the year, experts said theGovernment should impose drastic measures to control imports,particularly products that local companies can make./.
