Vietnam’s trade deficit in the first seven months of this year will reach $7.44 billion, nearly double the figure during the same period last year, a state-run newspaper reported on Monday.

January to July imports rose 25.5 percent from a year earlier to an estimated $45.71 billion, while exports rose 17.5 percent to $38.27 billion, the official Lao Dong newspaper cited trade ministry statistics as showing.

Vietnam had a trade deficit of $3.85 billion in the first seven months of 2009.

July’s trade gap would shrink slightly to $1.15 billion, from June’s reading of $1.2 billion, with exports estimated at $5.8 billion and imports at $6.95 billion, the newspaper said.

The government is expected to release full export and import details later this week.- Reuters