Vermont's High-Tech Exports Total $2.8 Billion in 2007
75 Percent of All Exports from Vermont Are High-Tech Goods
Woburn, MA (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.
Despite the fact that high-tech exports fell for a second year in a row, Vermont continues to have the highest concentration of high-tech exports in the nation - 75 percent of all exports from Vermont are high-tech goods. Ninety percent of the state's tech exports are semiconductors. Overwhelmingly, the leading destination for high-tech exports from Vermont is Canada.
"It's vital to understand that Vermont's economy is extremely dependent on the well-being of the technology sector," said Anne Doherty Johnson, Executive Director, AeA New England Council. "With 75 percent of all exports coming from the high-tech industry - supporting 11,500 jobs in the state - it is critical to ensure that we have the right pro-business policies in place to support the growth of Vermont's tech companies."
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 Vermont?
* $2.8 billion in high-tech exports (22nd ranked cyberstate)
* Down $298 million in tech exports between 2006 and 2007
* 75 percent of exports from Vermont are tech exports (ranked 1st)
* 11,500 jobs in Vermont are supported by tech exports
Vermont's Leading Tech Export Destinations:
* $1.1 billion in tech exports to Canada
* $338 million in tech exports to Hong Kong
* $251 million in tech exports to South Korea
Vermont's Leading Tech Export Sectors:
* 6th in semiconductor exports at $2.5 billion
* 32nd in computers and peripheral equipment exports at $138 million
* 39th in industrial electronics exports at $74 million
Source: Trade in the Cyberstates 2008
Data are for 2007.
Published by AeA, Advancing the Business of Technology (www.aeanet.org)