The med-tech sector is boosting UK performance in high-tech exports, while other sectors of the high-tech industries are performing poorly. The high-tech sector in the UK is experiencing a trade deficit according to new statistics released by Eurostat this week. The figures show that UK high-tech imports in 2004 valued at almost 73 billion euros, while exports to the rest of the world totalled around 63.5 billion euros. The UK also fared badly in the workforce stakes with 5.7% employed in the high-tech sector compared to the EU average of 6.8%. However, in terms of attracting venture capital investment the UK came top of the pile. The UK medical technology sector is currently bucking this trend with an estimated ￡500 million trade surplus in a sector worth in the region of ￡6 billion. However, this is partly due to a sluggish domestic market necessitating a concentration on export sales for small and medium-sized (SME) UK companies.
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