Chapter 6: Science & Engineering Indicators 93

Individual Industry Comparisons

The trend shown for the composite U.S. high-tech group masks strong performances by several U.S. high-tech industries. In three of the six high-tech areas, U.S. industry exports exceeded imports of like products throughout the 12-year period examined. (See figure 6-10 and appendix table 6-4.) The U.S. aircraft industry led all other U.S. high-tech industries' trade performance, generating consistent and widening trade surpluses. The U.S. scientific instruments industry registered a trade surplus in 1992 that exceeded any previously recorded surplus for this industry since 1981. The U.S. pharmaceutical industry has also found receptive markets overseas and contributed positively to the overall U.S. trade position consistently during 1981-92.

The remaining three high-tech areas had very different trade experiences. The United States ran a trade deficit in communications equipment and electrical machinery; this imbalance grew annually during the 1980s and continued to worsen through 1992. But trade in computer and office equipment showed the greatest deficit of all the high-tech areas. From 1981 to 1986, the United States exported more computer and office equipment than it imported. In 1986, that surplus declined sharply, priming an eventual turn to escalating deficits in the United States' computer and office equipment trade. Throughout the 12-year period examined, the growth in U.S. exports of computer and office equipment did not keep pace with U.S. imports. By 1992, this trend produced a $44 billion trade deficit--nearly three times the size of the U.S. trade surplus in aircraft equipment.

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