US High-Tech Companies Export a Record $181 Billion
WASHINGTON, Mar. 15 -- In 1999, US high-tech companies sold a record $181 billion in manufactured products overseas, accounting for more than one-quarter of all US exports, according to a market and industry report from the American Electronics Association (AEA) and the NASDAQ. Top export destinations were Canada, Mexico, Japan, the UK, and South Korea, as reported in Cybernation 2.0: The US High-Tech Industry and World Markets. The report also stated that the Philippines, South Korea, Ireland, Brazil, and Mexico were the fastest growing markets between 1993 and 1999; each imported more than $1 billion in US electronics.
High technology has become the driver of successful economies throughout the world, said William Archey, AEA president. It is clear from these new data that the US high-tech community -- with its culture of creativity, flexibility, and innovation; a vibrant venture capital market; and a labor force consisting of the world's best and brightest -- is now the model for success in the world's most competitive technology markets.
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