Despite the overall downturn, Tech Trade Update 2003 found some trading partners with which high-tech trade is growing. U.S. imports from China increased by $8.4 billion, or 32 percent between 2000 and 2002. In fact, China became the United States� number one supplier of high-tech goods, jumping ahead of Japan and Mexico, in 2002.
"These data echo the findings of our Tech Employment Update report released earlier this year which found a 10 percent drop in US tech employment from 2000 to 2002" said William T. Archey, President of AeA. "Clearly, the worldwide economic downturn is taking a toll on the technology industry."
The findings show that international trade of high-tech services is playing an increasingly important role. The trade surplus in these services more than offsets the deficit of tech merchandise trade. Most U.S. tech services are sold abroad through affiliates; they totaled $95 billion in 2000 (the latest data available), compared to $37 billion sold in the United States through foreign subsidiaries, resulting in a $58 billion surplus.
Some U.S. tech services were also sold from U.S.-based operations into other countries. Total cross-border tech services exports reached $17 billion in 2001 (the latest data available). This compares to U.S. cross-border tech imports of $7 billion in 2001, resulting in a $10 billion surplus.
Tech Trade Update 2003 examines U.S. high-tech trade between 2000 and 2002 and is based on the most current U.S. government data. AeA members can purchase the report for $10; non-members for $20. Visit http://www.aeanet.org to download the report, or call 800-284-4232 or 408-987-4200.
Advancing the business of technology, AeA is the nation's largest high-tech trade association. AeA represents more than 3,000 companies with 1.8 million employees. These 3,000+ companies span the high-technology spectrum, from software, semiconductors, medical devices and computers to Internet technology, advanced electronics and telecommunications systems and services. With 17 regional U.S. councils and offices in Brussels and Beijing, AeA offers a unique global policy grassroots capability and a wide portfolio of valuable business services and products for the high-tech industry. AeA has been the accepted voice of the U.S. technology community since 1943.