Export revenue in the first seven months reached US$35.21 billion, an increase of 18.2 percent compared to the same period last year, while import revenue was US$42.2 billion, a year-on-year increase of 28.5 percent.

The trade deficit in the first half of July reached US$690 million, much higher than in the previous two months. The country earned US$2.72 billion from exports, but allocated US$3.41 billion for imports.

The trade deficit from July onwards is usually higher than in previous months because enterprises will import more materials for production to prepare for the year-end season, according to economists.

To narrow the trade deficit in the remaining months of the year, the Government should impose drastic measures to control imports, particularly products that local companies can make, experts said.