High-tech exports experience a slight dip

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High technology remains the largest merchandise export sector in the United States, but it experienced a slight dip last year and failed to outpace imports. AeA, formerly the American Electronics Association, said U.S. technology exports totaled $214 billion in 2007, a decrease of 3 percent from $220 billion in 2006.

The finding was part of a study entitled "Trade in the Cyberstates," which reported that 29 states saw export growth between 2006 and 2007. High-tech imports, however, totaled $333 billion in 2007, up by three percent and resulting in a high-tech trade deficit of $118 billion. Christopher W. Hansen, AeA's president and CEO, said U.S. high tech exports support nearly 900,000 American jobs.

"We urge our leaders in Washington, DC to work together to open new foreign markets for U.S. exports," said Rob Mulligan, Senior AeA's international vice president. "And our trade partners need to uphold their side of the bargain by protecting intellectual property, lowering tariffs and non-tariff barriers to trade, and supporting international trade commitments. In a global economy, the only way to succeed is to support open trade policies where American companies and workers can compete freely and fairly."

The largest growth in high technology took place in Virginia, Florida, Idaho, New Jersey and Utah as measured by dollar increases. California was the leading high-tech export state with $48.2 billion in 2007, followed by Texas with $35.9 billion. Florida, New York, and Massachusetts rounded out the top five.

For more on the report:
- check out this AeA report