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First half trade deficit recorded

by VTV415 July 2015 Last updated at 11:29 AM

VTV.vn - Vietnam’ trade deficit reached 3.45 billion USD in the first half of this year, following a surplus of 1.3 billion USD last year. Vietnam’s economy has faced many challenges as a result of a high level of trade.

This trade reversal has led to doubts whether Vietnam can maintain a trade deficit of less than 5% set by the National Assembly, while it has already reached 4.8% in the first six months.

Vietnam’s key group exports such as agriculture, forestry and fisheries saw a significant decrease in the first half of this year. Some other groups also faced the same situation, especially coffee with a decrease of 35% on-year.

The decline of key export groups and raw materials has badly affected the export turnover of Vietnam. In the first half of this year, the export growth rate hit 9.3%, down from 15% in the same period last year.

Vietnam has attempted to push investment and trade through free trade agreement. However, after 6 months, many analysts are worried that Vietnamese businesses may not take the opportunities posed by new free trade agreements.

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