Vietnam's total export revenue in the first six months would reach 41.5 billion U.S. dollars, up 27. 8 percent year-on-year, according to the Vietnamese Ministry of Planning and Investment (MPI) on Thursday.

According to the MPI, the country's imports are expected to increase 26.4 percent, to 49 billion U.S. dollars, which puts the trade deficit for the first half of the year at around 7.5 billion U.S. dollars, equal to 18 percent of the total export value and higher than the ceiling rate of 16 percent targeted by the Vietnam' s National Assembly.

According to the Vietnam General Statistics Office (GSO), Vietnam's trade deficit in May increased by 17.3 percent to 1.7 billion U.S. dollars, the highest level since January this year.

Among the exports, rubber topped the list with nearly 96 percent increase, followed by coffee with 81 percent, and textiles and garments with more than 30 percent.

During the period, a rise in export volume and a sharp price hike on the world market have lifted the country's export turnover by roughly 2.7 billion U.S. dollars.

Major markets for Vietnamese exports include the United States, European Union, Japan and China, with an increase between 22-40 percent, the MPI reported.

Insiders estimated that the trade deficit would continue to rise due to increased imports.