Market Research Shows Emerging Middle Class Gives Hope to US Technology Exporters

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1st October 2012 12:59 - Information Technology

A recent survey carried out on behalf of UPS has found that around 85% of high-tech executives in the United States feel  that President Obama is likely to meet his target of doubling exports in the sector by 2015. They cited a growing middle class desire for laptops, tablets, mobile phones and other technology in developing countries.  Free trade agreements, such as that between the US and Panama, the US and South Korea and the US and Columbia also contribute to the optimism. The survey was carried out with 125 high-tech manufacturers and included

Under a quarter (23%) of companies said they had experienced export growth in the past two years, but almost  three quarters (74%) now expect to do so in the coming two years.  The survey found that exports were expected to grow the most in India (22%), and also in Africa and the Middle East. Increases of 18% in Brazil and 19% in the rest of South America are also expected.

The companies interviewed currently sell almost all (97%) of what they produce to the US, although that amount is expected to fall to around 90% as demand from the rest of the world increases. In preparation for this, more than a third of those interviewed said they planned to shift distribution from air to ocean freight – particularly when a widening of the Panama Canal is completed in 2015.

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