Newsroom

Aerospace Trade Balance Soars to Unprecedented Level in 2007

April 22, 2008

Increased 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.