AeA Report: U.S. High-Tech Exports Up 10%
Published: 17 July 2007
by Staff
WASHINGTON, DC – U.S. high-tech goods exports increased by 10% to $220 billion, while imports rose by 9% to $322 billion between 2005 and 2006, according to AeA's first edition of “Trade in the Cyberstates 2007.”
The report shows that 2006 was the fourth consecutive year of growing high-tech exports, with increases in eight industry sectors. The leading growth sectors were industrial electronics (+16%) and communications equipment (+13%). High-tech was the nation’s largest export industry, comprising 21% of total U.S. goods exports, says AeA.
The U.S. had an overall trade deficit in high-tech goods of $102 billion for the year. Not surprisingly, the largest deficit with any single country was with China, at $88 billion, according to the study.
The largest high-tech trade surplus for the U.S. was with Canada at $18 billion, followed by the EU at $13 billion.
High-tech was the second largest industry import, just behind energy products. The largest high tech-import sectors were computers and peripheral equipment ($108.1 billion), communications equipment ($68.9 billion), and consumer electronics ($47.9 billion), AeA informs.
California was the leading high-tech export state with $51.8 billion in exports, followed by Texas, with $38.6 billion. Florida, Massachusetts, and New York rounded out the top five.
The largest decrease in tech exports occurred in Vermont, declining by $533 million. The largest percentage increase in tech exports among the top ten exporting states occurred in Oregon, which grew by 41.2%.
The largest overseas markets for U.S. high-tech exports were the EU ($46.1 billion), Canada ($30.1 billion), Mexico ($29.6 billion), China ($14.1 billion), Japan ($13.9 billion), and South Korea ($10.6 billion).
The U.S. imported the most high-tech products from China ($102.5 billion), Mexico ($44.7 billion), the EU ($33.4 billion), Japan ($31.0 billion), and Malaysia ($29.4 billion), reports AeA.
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