Virginia’s Tech Exports Up 1.1 Billion in 2007
Virginia Sees Highest Growth in Tech Exports Nationwide

Washington, DC (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 Virginia increased for the fourth consecutive year, rising to $3.9 billion in 2007. This is a 1.1 billion increase from 2006 – the largest increase of any state. Virginia’s single strongest export sector is semiconductors, which increased by 53 percent from 2006 and exported more than $2.3 billion of goods in 2007. As a result, the state ranked 11th in the nation by high-tech exports. By comparison, Virginia was 21st in the nation by high-tech exports in 2006.

“Virginia’s high-tech exports are booming, largely thanks to an explosive 53 percent increase in overseas semiconductor shipments,” said Matthew Kazmierczak, AeA’s Senior Vice President, Operations. “In 2007 high-tech goods accounted for almost a quarter of all exports from the state and supported 15,700 jobs. Virginia benefits greatly from exports and should be clamoring for our leaders in Washington to renew the bipartisan consensus on trade by passing the pending free trade agreements with Colombia, Panama, and South Korea. And our trade representatives need to continue working with international partners to renew the stalled Doha negotiations of the World Trade Organization.”

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 Virginia?

• $3.9 billion in high-tech exports (11th ranked cyberstate)
   
• Up $1.1 billion in tech exports between 2006 and 2007
   
• 23 percent of exports from Virginia are tech exports (14th ranked cyberstate)
   
• 15,700 jobs in Virginia are supported by tech exports

Virginia’s Leading Tech Export Destinations:

• $846 million in tech exports to Portugal
   
• $741 million in tech exports to Singapore
   
• $404 million in tech exports to Taiwan

Virginia’s Leading Tech Export Sectors:

• 7th in semiconductor exports at $2.3 billion
   
• 16th in communications equipment exports at $344 million
   
• 21st in computers and peripheral equipment exports at $519 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 09/16/08.  
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