The MoIT also announced that the country recorded a trade deficit of about US$400 million in May.
According to the MoIT, although the trade surplus equivalent reached 2 per cent of total export value in the first five months, demand for imported machinery and materials for infrastructure building is still high.
There is also a growing need for industrial equipment imports to expand production and optimise opportunities brought about by numerous free trade agreements the country has joined.
In the first five months of the year, Vietnam posted a trade surplus of US$1.36 billion as a result of some US$67.7 billion in exports (up 6.6 per cent year on year).
To attain an export growth rate of 10 per cent this year as targeted by the National Assembly, the ministry should devise measures for tackling business obstacles and improving production capacity, MoIT Minister Tran Tuan Anh said.
