Virginia’s Tech Exports Total $2.8 Billion
Virginia’s High-Tech Exports Grew 46 Percent, the 2^nd Largest Increase Nationwide

Washington, DC (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.

High-tech goods exports from Virginia reached $2.8 billion in 2006, up $892 million, or 46%, from 2005, marking the 2^nd largest percent increase of all the cyberstates.  From 2005 to 2006, Virginia’s export of semiconductors has more than doubled, totaling $1.5 billion, and making it the 9^th largest semiconductor exporting cyberstate. 

“Our employees in Richmond are responsible for manufacturing Dynamic Random Access Memory (DRAM) that go into some of the world's leading applications, including computers, networking and storage devices, gaming consoles, and consumer mobile devices," said Henry Becker, President of Qimonda North America.  "As the largest exporter of semiconductors in the state, we are proud to contribute to Virginia's economy in such a significant way.”

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 report 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 Virginia?

• $2.8 billion in high-tech exports (21^st  ranked cyberstate)
   
• Up $892 million in tech exports between 2005 and 2006
   
• 20 percent of exports from Virginia are tech exports (ranked 17^th)
   
• 10,600  jobs in Virginia are directly supported by tech exports

Virginia’s Leading Tech Export Destinations:

• $895 million in tech exports to Germany
   
• $447 million in tech exports to Singapore
   
• $240 million in tech exports to Canada

Virginia’s Leading Tech Export Sectors:

• 9^th in semiconductor exports at $1.5 billion
   
• 18^th in communications equipment exports at $292 million
   
• 26^th in computers and peripheral equipment exports at $341 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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About AeA
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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