Minnesota's Tech Exports 9th Highest in Nation
31 Percent of Minnesota’s Exports Are High Tech

Minneapolis, MN  (September 23, 2008) – AeA, the nation’s largest technology trade association representing all segments of the high-tech industry, today released its annual report detailing national and state trends in the international trade of high-tech goods. The report, Trade in the Cyberstates 2008: A State-by-State Overview of High-Tech International Trade, covers all 50 states, the District of Columbia, and Puerto Rico.

For the first time since 2002, Minnesota's tech exports declined in 2007. They fell by $612 million for a total of 5.6 billion. Despite that, Minnesota remained 9th nationwide in high-tech exports. Minnesota's two leading tech sectors were electromedical equipment and computers and peripheral equipment, which together accounted for more than 50 percent the state’s high-tech exports. Minnesota’s $1.5 billion of electromedical equipment exports ranked 3rd in the nation.

"Not only are tech exports a significant part of our state’s overall exports, but they also support more than 20,000 jobs in the state,” said Wendell Maddox, president and CEO of ION Corporation and chair of the Minnesota High Tech Association Board of Directors. "With 31 percent of our state's exports being technology goods, the tech industry is a major driver of our economy. We need to keep growing the high paying tech jobs that produce these goods and services by continuing to open new markets overseas. Trade is good for the United States and good for the state of Minnesota."

Nationally, Trade in the Cyberstates 2008 shows that U.S. high-tech goods exports decreased by three percent in 2007, totaling $214 billion, representing 18 percent of all U.S. exports to the world. High-tech imports totaled $333 billion in 2007, up by three percent, resulting in a high-tech trade deficit of $118 billion. High-tech exports supported 894,600 jobs in the United States.

Trade in the Cyberstates 2008 provides a comprehensive review of international trade of high-tech goods at the national and state-by-state level. The report provides overview pages for all 50 states, the District of Columbia, and Puerto Rico. These "snapshot" pages highlight historical high-tech export trends, exports by individual tech sector, and leading export destinations.

This report is a partner publication to AeA's other two annual cyber publications, Cyberstates and Cybercities, which provide data on high-tech jobs, wages, payroll, and other factors at the state and metropolitan levels.

AeA members can purchase each of these reports for $125; non-members for $250. Visit www.aeanet.org/research to purchase the reports.

What Does High-Tech Trade Mean for Minnesota?

• $5.6 billion in high-tech exports (9th ranked cyberstate)
   
• Down $612 million in tech exports between 2006 and 2007
   
• 31 percent of exports from Minnesota are tech exports (11th ranked)
   
• 20,800 jobs in Minnesota are supported by tech exports

Minnesota’s Leading Tech Export Destinations:

• $1.0 billion in tech exports to Ireland
   
• $533 million in tech exports to Canada
   
• $440 million in tech exports to the Philippines

Minnesota’s Leading Tech Export Sectors:

• 3rd in electromedical equipment exports at $1.5 billion
   
• 6th in computers and peripheral equipment exports at $1.5 billion
   
• 9th in industrial electronics exports at $1.0 billion

Source: Trade in the Cyberstates 2008

Data are for 2007.

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

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About AeA

AeA, the nation’s largest technology trade association 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 09/19/08.  
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