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Sunday, Dec 10, 2023

Profile of World Tech Market

BY Staff Writer

It’s no secret high-technology now drives the global economy. While the United States remains one of the dominant countries in high-tech manufacturing, there are several other key players.

The American Electronics Association and the Nasdaq Stock Market have released a report, Cybernation 2.0, that reveals the growing trends in high-technology and how the world contributes. The study includes 64 markets worldwide.

Here’s a look at some of Cybernation’s findings:

– U.S. high-tech exports reached a record $181 billion in 1999, up $14.5 billion from 1998. The Asian economic crisis resulted in a $4 billion decrease in U.S. high-tech exports between 1997 and 1998.

– The high-tech industry is the United States’ largest exporter, ahead of transportation and chemicals.

– The high-tech industry is America’s largest overseas investor, with $95 billion, about $4 billion higher than the next largest industry, petroleum.

– Among the $1 billion and above high-tech export markets, the Philippines grew the fastest by exports, quadrupling between 1993 and 1999. The other fast growing high-tech export markets include South Korea, Ireland and Brazil.

– U.S. exports to South Korea jumped from $6 billion to $10 billion from 1998 to 1999, after dropping from $8 billion in 1997.

– Mexico is now the second largest export destination for U.S. high-tech companies at $22 billion, up 171 percent since 1993. The United States exported $5 billion more to Mexico than to Japan in 1999.

– Technology use around the world shows the United States leads in computer use per capita, followed by Sweden, Finland, Iceland and Norway. Japan and Germany ranked 18th and 19th, respectively, in computer use per capita.

– Iceland ranked first in Internet use per capita, followed by the United States, Finland, Sweden and Norway. Germany ranked 14th, while Japan ranked 21st.

– Finland, Hong Kong and Norway are the leaders in cell phone use per capita. The United States ranks 16th per capita.

– The United States leads in the availability of venture capital, followed by the Netherlands, Taiwan, Israel and Finland. Among the Asia-Pacific countries, Japan ranks last in availability of venture capital.


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