Tech Exports Break Record

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.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments