HANOI, July 9: Vietnam's trade deficit this year is forecast to reach $8 billion as demand for machinery, equipment and raw materials remains strong, an official report said on Monday.

Although the figure is high, it is still “acceptable for a developing economy on its way to international integration,” said an online report released by the ministry of trade's planning and investment department.

“In the long run, the import of machinery, equipment and materials for production will be a necessary step for overall economic development,” it said.

In the first half of this year, Vietnam's trade deficit was estimated at $4.78 billion. —AFP