FRAMINGHAM (03/17/2000) - U.S. high-tech companies exported a record $181 billion in products last year, accounting for just over one quarter of total U.S. exports, according to a report released this week by the American Electronics Association and Nasdaq Stock Market Inc. in Washington.
The 1999 figures indicate that the high-tech industry has become the No. 1 exporter of U.S. goods. The U.S. is also the leading high-tech importer, purchasing $220 billion in goods last year and creating a record-high trade deficit, the report said.
Canada and Mexico were the United States' largest markets last year, buying $29 billion and $22 billion in U.S. products, respectively. Other top markets were Japan, the U.K. and South Korea.
Between 1993 and 1999, the fastest-growing export markets, with more that $1 billion in purchases, were the Philippines, South Korea, Ireland, Brazil and Mexico, according to the report.
The data shows that the U.S. remains the leading high-tech user, with 159 million computers. But the report predicts that the Asia-Pacific region will surpass the U.S. in computer use by 2005. The U.S. will retain its lead in Internet use, the report predicts.