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Aerospace Foreign Trade Increases, Trade Balance Edges Down in 2001

WASHINGTON, D.C., March 20 - The Aerospace Industries Association released final figures for the last quarter of 2001, showing that although foreign trade in aerospace products increased in 2001, the aerospace trade balance declined. Exports grew $3.8 billion to $59 billion while imports rose $4.5 billion to a record $32 billion. The resulting trade balance shrank $700 million to $26 billion--marking its third straight decline since peaking in 1998 at $41 billion.

Growth in civil exports accounted for almost all of the seven percent increase in exports. Foreign delivery of general aviation aircraft grew 19 percent to $1.4 billion, while exports of commercial transports rose 13 percent to $22 billion. Parts exports rose $1.1 billion to $24 billion and complete aircraft engines increased 12 percent to $5.5 billion.

Imports increased 16 percent from last year's record level. Imports of parts, complete aircraft engines, general aviation aircraft, and commercial transports each grew more than $1 billion. With the exception of parts, which grew 12 percent to $12 billion, imports in these other categories also rose by more than 20 percent.

P.A. Rel 2002-17

03.20.02

-AIA-

Contact: Matt Grimison, AIA
(202) 371-8548
matt.grimison@aia-aerospace.org