U.S. HIGH-TECHNOLOGY TRADE DECLINES FROM 2000 TO 2002
Posted on Mon, Jul. 28, 2003
The United States exports and imports more high-tech goods than any other commodity, although tech's share of all exports dropped from 29 percent in 2000 to 24 percent of total U.S. goods exported in 2002.
• High-tech exports fell 26 percent from $223 billion in 2000 to $166 billion in 2002.
• High-tech imports decreased 19 percent, from $271 billion in 2000 to $220 billion in 2002.
• The balance-of-trade deficit between tech exports and imports grew from $48 billion in 2000 to $54 billion in 2002.
• Semiconductors comprised the largest segment of U.S. high-tech exports at $42 billion in 2002. The U.S. imported fewer semiconductors, resulting in a $16 billion surplus in this category.
• Computers and office equipment was the largest technology import segment, at $77 billion in 2002. The United States exported far fewer computers, resulting in a $37 billion deficit in this category.
• The majority of U.S. high-tech exports in 2002 was sold to four key markets -- the European Union, Mexico, Canada and Japan. These markets accounted for more than $98 billion, or about 60 percent, of total high-tech exports from the United States.
• While technology exports overall dropped over the past two years, exports to a few countries have increased including Costa Rica, India and China among markets over $1 billion. Overall, Afghanistan had the largest percentage increase as exports there increased from a mere $200,000 in 2000 to $65 million in 2002.
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