New York tech exports down as nation’s tech trade deficit grows

New York”™s global exports of technology merchandise dropped nearly 5 percent in 2012, though the state retained its ranking as the fifth largest exporting state in the U.S., according to a recent report by TechAmerica Foundation.

Technology merchandise exports from New York totaled $6.6 billion in 2012, decreasing by $320 million or 4.6 percent from 2011, according to “Tech Trade in the States 2014.” The report looks at tech trade flows at the national level and tech goods exports for all 50 states, the District of Columbia and Puerto Rico.

Technology exports accounted for 8.1 percent of New York”™s $81 billion in total exports in 2012, placing the state 29th in percentage share of technology exports.

New York ranked fourth in communications equipment exports at $1.4 billion; fifth in computer equipment exports at $1.8 billion, and sixth in measuring and control exports at $1.9 billion.

Canada was New York”™s largest technology trading partner, importing nearly $967 million in tech products. The United Kingdom was a distant second as tech trading partner, with $467 million in imports from the U.S. Tech exports to Hong Kong totaled $458 million.

Tech exports supported 48,600 jobs in New York in 2012, according to the report, which draws on government statistics.

Matthew Kazmierczak, vice president of research at the nonprofit TechAmerica Foundation, in a press release said the report “identifies the clear role that technology trade plays in the New York economy, supporting thousands of New Yorkers…Strengthening and expanding trade agreements around the world will help protect and expand the reach of our technology industry.”

While New York”™s technology sector exports declined in 2012, national exports of tech goods grew by 1.3 percent or $2.7 billion, totaling $204 billion. Those exports accounted for more than 13 percent of all U.S. exports and supported 1.5 million jobs, according to the report.

The U.S., though, still was left with a tech trade deficit of $151 billion in 2012, according to the report, with technology imports totaling $355 billion. That was an increase of 3.2 percent or $11 billion from 2011.

The TechAmerica Foundation report is available at http://www.techamericafoundation.org/tech-trade-in-the-states.