"Given the current price movement and the fact that demand from importers has not recovered, it would be very difficult to reach a target of exporting $6 billion worth of goods per month for the rest of the year," the Thanh Nien newspaper quoted Deputy Trade Minister Nguyen Thanh Bien as saying.

Exports have been below $6 billion per month since September 2008. Last week, the government's General Statistics Office estimated that July's exports totalled $4.75 billion.

The previous full-year export target of $64 billion could only be met if global crude oil prices were above $70 a barrel, the report quoted the trade ministry as saying. On Tuesday benchmark U.S. crude was quoted at $68.33.

Crude oil exports are Vietnam's biggest source of foreign exchange. In the seven months from January through July, the country's crude exports dropped nearly 45 percent from the same period last year to $3.7 billion, accounting for 11 percent of the country's total export value.

Reuters - July 30, 2009