U.S. High Tech Exports On the Rise, Future Looking Optimistic
"It's really being driven by this emerging middle class that have more disposable income and a heavy appetite for technology products like cell phones, tablets, and laptops," Ken Rankin, a high-tech marketing director at UPS in Atlanta, told Reuters in an interview.
Free trade pacts, like the pending one between the U.S. and Panama, are helping to boost tech exports. Another reason is the rising cost of overseas labor. The result is much higher optimism. To wit, barely more than 2 out of 10 companies -- 23 percent -- expected any sort of export growth over the past two years, but now 74 percent expect exports to rise within the next 24 months.
"Additional progress in free trade agreements would be a big winner, not only for the high-tech space but for all U.S. industry," Rankin added.