The target of 700 billion USD in import-export revenue for this year is a tough one amid current difficulties in the global market, said insiders.

Vietnam’s import-export value from the beginning of the year to August 15 stood at an estimated US$402 billion with a trade surplus of US$16.25 billion, reported the General Department of Vietnam Customs.

Vietnam recorded a trade surplus of about 12.25 billion USD in the first half of this year, according to data released by the General Statistics Office of Vietnam (GSO) on June 29.

Vietnam’s total import-export revenue hit 700 billion USD so far this year, exceeding last year’s record of 600 billion USD, reported the General Statistics Office (GSO).

During the fourth quarter of every year most of the export companies in Vietnam find the need to step up pace in order to meet the increased demand in orders from major import markets such as the US and the European Union.

Despite the recent difficulties, Vietnam’s import-export value almost hit US$500 billion in the first eight months of the year and is expected to rise to US$800 billion by year-end.