US exports $214B worth of high-tech goods in 2007

In 2007 US companies exported $214 billion worth of high-technology products - everything from semiconductors and computers to photonics and communications gear - a loss of three percent over 2006. Unfortunately, high-tech imports totaled $333B in 2007, up by three percent, resulting in a US trade deficit of $118B, according to the Trade in the Cyberstates 2008 study released today by the high-tech trade group AeA, previously known as the American Electronics Association.

Technology is the largest merchandise export sector in the country totaling $214B in 2007, 18% of all US exports to the world, the AeA said. The group's study looks at high-tech trade flows at the national level and tech goods exports for all 50 states, the District of Columbia, and Puerto Rico.

The good news is that 29 states saw growth in tech export between 2006 and 2007.  The largest growth was in Virginia, Florida, Idaho, New Jersey, and Utah.  California was the leading high-tech export state with $48.2B in exports in 2007, followed by Texas with $35.9B, with Florida, New York, and Massachusetts filling out the top five. 

The largest decrease in tech exports occurred in California (-3.5%) and Texas (-2.7%).

Here are a few other interesting items in the study. 

The top 10 tech exporting states are:

1. California  

2. Texas        

3. Florida

4. New York 

5. Massachusetts

6. Arizona

7. Illinois

8. Oregon

9. Minnesota

10. Tennessee

The largest overseas markets for US high-tech exports in 2007 include:

  • European Union ($46.6B),
  • Canada ($29.4B),
  • Mexico ($26.0B),
  • China ($14.5B),
  • Japan ($11.9B),
  • Singapore ($9.2B).

The fastest growing large export markets (defined as having $1B or more in US tech exports) for U.S. tech exports included:

  • Portugal (+204%),
  • Dominican Republic (+45%),
  • Belgium (+41%),
  • Colombia (+28%),
  • Argentina (+21%).

On the other side of the trade picture, the United States imported the most high-tech products from:

  • China ($112.3B),
  • Mexico ($51.3B),
  • European Union ($33.4B),
  • Japan ($29.2B),
  • Malaysia ($25.1B).

The export study dove-tails with the group's yearly Cybercities 2008: An Overview of the High-Technology Industry in the Nation's Top 60 Cities report which this year found that IT jobs are hot, particularly in Seattle and New York.

In related news the IDG News Service reported last week the AEA and the Information Technology Association of America were in merger talks with the goal of speaking in one voice in Washington, D.C., and around the world. ITAA has about 350 companies as members and AEA counts about 2,500 members, although there is some overlap in membership.

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Copyright © 2008 IDG Communications, Inc.

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