Minnesota's Tech Exports Grow $1.8 Billion Since 2000
Minnesota Exports $6.2 Billion Tech Goods in 2006

Minneapolis, MN (July 17, 2007) – AeA, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, today released a special trade report detailing national and state trends in the international trade of high-tech goods.  The report, Trade in the Cyberstates 2007: A State-by-State Overview of High-Tech International Trade, covers all 50 states, the District of Columbia, and Puerto Rico.

Minnesota's tech exports have grown steadily since 2002 for a total of $6.2 billion in 2006.  While tech exports slumped slightly after the downturn of the tech industry, over the past six years tech exports rose $1.8 billion.  Minnesota's two leading tech sectors were computers (and peripheral equipment) and electromedical equipment.  In fact, Minnesota ranks 2nd in electromedical equipment exports; only California exports more.

"With 38 percent of our state's exports being technology goods, the tech industry is a major driver of our economy," said Todd Hauschildt, Vice President, Managed Technology Services, Thomson West and chair of the Minnesota High Tech Association Board of Directors.  "Not only are tech exports a significant part of our state’s overall exports, but they also support tens of thousands of jobs for Minnesotans.  We need to keep growing high paying tech jobs by continuing to open new markets overseas."

Nationally, Trade in the Cyberstates 2007 shows that international trade of high-tech goods continues to rise.  High-tech goods exports grew by 10 percent for a total of $220 billion in 2006, representing 21 percent of all U.S. exports to the world.  High-tech imports totaled $322 billion in 2006, up by 9 percent, resulting in a tech trade deficit of $102 billion.  Nationwide, tech exports directly supported 683,900 jobs in the United States.

Trade in the Cyberstates 2007 provides a comprehensive review of international trade of high-tech goods at the national and state-by-state level.  The report provides 52 state overview pages highlighting high-tech exports with detailed data on historical export trends, exports by individual tech sector, and leading export destinations by country.

This report is a partner publication to AeA's annual flagship publication, Cyberstates, which provides national and state-by-state data on high-tech jobs, wages, payroll, and other factors.  In the past, the high-tech trade data was included in the Cyberstates report.  This new report provides a tremendous amount of detailed data that was not previously published.  Like Cyberstates, Trade in the Cyberstates uses official government statistics and is not survey data.

AeA members can purchase Trade in the Cyberstates 2007 for $125; non-members for $250.  Visit www.aeanet.org/trade to download the report, or call 408.987.4200.

What Does High-Tech Trade Mean for Minnesota?

• $6.2 billion in high-tech exports (9^th  ranked cyberstate)
   
•  Up $35 million in tech exports between 2005 and 2006
   
•  38 percent of exports from Minnesota are tech exports (ranked 10^th)
   
•  24,800 jobs in Minnesota are directly supported by tech exports

 Minnesota’s Leading Tech Export Destinations:

• $921 million in tech exports to Ireland
   
• $544 million in tech exports to Canada
   
• $414 million in tech exports to China

Minnesota’s Leading Tech Export Sectors:

• 2^nd in electromedical equipment exports at $1.4 billion
   
• 5^th in computers and peripheral equipment exports at $1.8 billion
   
• 11^th in industrial electronics exports at $989 million

Source: Trade in the Cyberstates 2007

Data are for 2006.

Published by AeA, Advancing the Business of Technology (www.aeanet.org)

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AeA, the nation’s largest technology trade association with 2,500 member companies representing all segments of the high-tech industry, is dedicated solely to helping our members’ top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels, providing access to capital and business opportunities, and offering select business services and networking programs. For more information, please visit http://www.aeanet.org.

This page was last updated on 07/18/07.  
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