22 exports earning US$1 billion each in 2011

Garments topped the list of 22 export items, fetching US$14 billion in revenue, according Ministry of Industry and Trade (MoIT).

They were followed by crude oil, mobile phones and spare parts, footwear and seafood.

2011 saw a sharp increase in export of mobile phones and accessories, bringing home US$6.8 billion, up 197 percent against 2010.

Timber product exports also ranked first in Southeast Asia and tenth in the world, raking in US$3.9 billion.

The US took the lead among 24 key markets of Vietnam, importing more than US$1 billion each, followed by Japan and China.

The MoIT forecast that exports in 2012 will face difficulty because many key markets have fallen into public debt crisis. This is already demonstrated by a significant decline in the number of garment business contracts.

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