California Business Minute™

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Hi, I am Tim Johnson and welcome to the California Business Minute.

U.S. high-tech merchandise exports declined 3 percent last year to $214 billion,
while imports increased by 3 percent reaching $333 billion, resulting in a high-tech
trade deficit of roughly $118 billion according to a report released this week by AeA,
the trade group formerly known as the American Electronics Association.

California had the most high-tech exports of any state, $48.2 billion in 2007, followed
by Texas with $35.9 billion according to report. Those exports, specifically for California
also fell by $3.5 billion from the prior year, the largest numeric decline of any state. The
largest decreases in tech exports occurred in California, Texas, and Colorado.

The state's two largest sectors were computers and peripheral equipment ($12.3 billion)
and semiconductors ($12.2 billion).

The largest overseas markets for U.S. high-tech exports in 2007 were the European Union
($46.6 billion), Canada ($29.4 billion), Mexico ($26.0 billion), China ($14.5 billion), Japan
($11.9 billion) and Singapore ($9.2 billion).
 The U.S. imported the most high-tech products from China ($112.3 billion), Mexico ($51.3 billion),
the European Union ($33.4 billion), Japan ($29.2 billion) and Malaysia ($25.1 billion).

"The bad news is that U.S. tech exports declined slightly in 2007," said Christopher Hansen,
the president and CEO of AeA. "The good news, however, is that tech exports rose in 29 states.
These exports support nearly 900,000 American jobs -- an often overlooked fact."

I am Tim Johnson and this has been the California Business Minute.