- Advocacy & Policy
- Research Center
April 22, 2008Increased exports of aerospace products in the final quarter of 2007 sent the aerospace industry's trade balance into record territory last year, with a final tally of $60.4 billion. "The sustained growth in aerospace trade is a good sign not only for our industry, but the U.S. economy as a whole," AIA President and CEO Marion Blakey said. "Our industry's track record as a major net export earner for the United States helps to offset the nation's chronic trade deficit." Aerospace industry exports soared to almost $97 billion in 2007, a nearly 14 percent increase over the $85 billion worth of aerospace products exported in 2006. Civil aircraft exports, which accounted for almost 50 percent of total aerospace exports, dominated the growth. Military-related exports accounted for almost $13 billion of the total. "Airlines from around the world are stocking up on U.S. aircraft because of growing demand in both emerging and established markets," Blakey said. "This is a very hot market despite economic uncertainty." Imports of aerospace products increased to $36.5 billion in 2007, up from $30.5 billion in 2006. One-third of that growth was related to commercial transport aircraft and increased imports of regional jets.