High-Tech Exports Down $20 Billion in First Six Months of 2002

Washington, DC -- September 5, 2002— New trade data released today from AeA, the nation’s largest high-tech trade association, show that high-tech exports are down 20 percent, or $20 billion, for the first six months of the year, compared to the same period in 2001. Between January and June 2002, U.S. high-tech exports totaled $82.4 billion, down from $102.5 billion in 2001.

"The data show that the tech industry is still struggling with the worldwide economic downturn of the last two years," said William T. Archey, President and CEO of AeA. "Not surprisingly, the sharpest downturns were to the European Union and Latin American countries. It will be quite sometime before exports return to the record levels of 1999 and 2000."

Despite the overall downturn, surprisingly, technology exports to a few countries actually increased. High-tech exports increased by two percent to China, up $41 million. Technology exports to Malaysia also increased seven percent from $3.2 billion to $3.4 billion. The most dramatic increase was to Costa Rica, where several U.S. technology manufacturers have opened facilities. In the first half of this year, high-tech exports increased 78 percent, or some $250 million, over the same time last year.

However, U.S. technology exports to the vast majority of countries were down significantly for the first six months of 2002. The largest decrease was to the European Union, where U.S. tech exports dropped 27 percent, down $6.7 billion. Technology exports were also down more than $3.3 billion to Canada and $2.3 billion to Mexico. Argentina’s economic woes nearly wiped out U.S. technology exports; they fell 84 percent to $114 million from January to June this year, compared to $700 million during the same time last year.

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Advancing the business of technology, AeA is the nation's largest high-tech trade association. AeA has more than 3,500 member companies that span the high-technology spectrum, from software, semiconductors and computers to Internet technology, advanced electronics and telecommunications systems and services. With 18 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.

This page was last updated on 09/05/02.