Report: Tech exports rose in 2008, but took a big hit in 2009 |
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Report: Tech exports rose in 2008, but took a big hit in 2009
A new report from TechAmerica shows that high-tech exports in Washington state increased for the sixth consecutive year in 2008, up five percent from the previous year. The state ranked 15th overall with $3.5 billion in high-tech exports, though it is important to note that the report did not track exports of software.
Had software exports been included, Washington surely would have ranked higher.
Washington's tech export growth rate surpassed that of the nation as a whole, which saw a one percent increase in tech exports during 2008. The U.S. exported $223 billion worth of technology goods last year, which represents 17 percent of all exports.
But the rough economic situation has taken its toll in recent quarters.
Washington state tech exports. Source: TechAmerica
U.S. tech exports saw a rapid decline in the first half of 2009, down 22 percent in the first quarter and down 23 percent in the second quarter.
"In 2008 high-tech exports were still faring well and we even saw an improvement in the balance of trade for technology goods as imports declined," said TechAmerica's Christopher Hansen. "Yet as the global recession gained steam, U.S. tech exports suffered, declining dramatically in the first half of 2009.”
Washington ranked 5th in consumer electronics at $320 million, 9th in electromedical equipment at $885 million and 11th in photonics at $68 million. The number one destination for high-tech products from the state was Canada, which imported $534 million worth of goods followed by Taiwan ($301 million) and the Netherlands ($291 million).
The report found that technology exports in Washington accounted for seven percent of the total $54.5 billion. (That compared to 34 percent from California, which has a larger computer hardware industry). It also noted that 17,900 jobs were supported by tech exports in Washington. (That compared to 233,000 jobs in California).
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