February 1998 Bulletin

HIMA forecasts growth in exports, production

Trade surplus with Asia to shrink

The economic turmoil in Asia is expected to result in a reduced trade surplus for U.S. medical devices and diagnostic equipment with the region in 1998, but it will not have a major impact on the total U.S. trade surplus for these products, according the Health Industry Manufacturers Association (HIMA).

HIMA estimates that the trade surplus with Asia for medical devices and diagnostic equipment will be $1.1 billion, down about $333 million from 1997. HIMA estimates the total U.S. trade surplus for medical devices and diagnostic equipment will be $7.6 billion in 1998, up from $7.1 billion in 1997.

The trade surplus for orthopaedic devices and surgical supplies is expected to be $1.34 billion in 1998, a 5 percent increase from 1997. Thatís down from the 9 percent growth in the trade surplus for these products in 1997.

The trade surplus with the European Union, the largest market for U.S. exports of medical devices and diagnostic equipment, is expected to be $4 billion in 1988, an increase of $631 million from 1997. The trade surplus with Japan is projected at $700 million, compared with $900 million in 1997. Less than 10 percent of U.S. exports of medical devices and diagnostic equipment go to other Asian nations.

HIMA is forecasting U.S. production of medical devices and diagnostic equipment will total $69 billion in 1998, compared to $65.2 billion in 1997. Total U.S. exports in 1998 are projected to be $14.5 billion, up from $13.7 billion in 1997. Imports are expected to total $7.2 billion, up from $6.7 billion in 1997.


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