New Jersey's Tech Exports Up 11 Percent in 2007
New Jersey’s Tech Export Growth Is 4th Largest Nationwide

Mt. Laurel, NJ  (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.

High-tech goods exports from New Jersey were up $357 million, or 11 percent, in 2007, for a total of $3.7 billion. High-tech accounts for 12 percent of the total exports from the state. The largest tech export sector in New Jersey was industrial electronics, exporting just over $1 billion in 2007. The state’s top three trading partners were Canada, Japan, and France.

"High-tech exports are extremely important to New Jersey's economy," said Peter J. Boni, President and CEO, Safeguard Scientifics, Inc. "For the second year in a row the state saw an increase in tech exports. Also, in 2007 all three of our main export sectors – industrial electronics, computers and peripheral equipment, and communications equipment – were up from the levels in 2006. High-tech exports support 15,800 jobs in New Jersey. This positive correlation between exports and jobs is often overlooked. By working together, Congress and the President have the ability to open new overseas markets for U.S. tech products through trade agreements already concluded but not yet passed with Colombia, Panama, and South Korea."

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 New Jersey?

• $3.7 billion in high-tech exports (13th ranked cyberstate)
   
• Up $357 million in tech exports between 2006 and 2007
   
• 12 percent of exports from New Jersey are tech exports (ranked 32nd)
   
• 15,800 jobs in New Jersey are supported by tech exports

New Jersey’s Leading Tech Export Destinations:

• $568 million in tech exports to Canada
   
• $363 million in tech exports to Japan
   
• $331 million in tech exports to France

New Jersey’s Leading Tech Export Sectors:

• 8th in communications equipment exports at $637 million
   
• 10th in industrial electronics exports at $1.0 billion
   
• 11th in electromedical equipment exports at $451 million

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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