Despite sales declining $5 billion (from record levels), profits rebounded. The sharp improvement is likely due to lowered labor expenses--during the quarter aerospace employment fell by nearly 40,000. Orders remained robust at $43 billion. Domestic customers accounted for the majority of the quarter's sales decline since exports were virtually unchanged.

In Billions of Current Dollars	1Q 2002	4Q 2001	% Change 4Q01 to 1Q02	1Q 2001	2001 Year-End	2000 Year-End
Aerospace Sales	$39.88	$45.09	-11.6%	$37.96	$168.76	$154.88
Profits	$2.14	$0.86	149.7%	$2.38	$6.57	$7.26
Orders	$42.82	$43.31	-1.1%	$41.65	$152.01	$184.34
Exports--Total	$13.93	$13.94	-0.1%	$14.94	$58.51	$54.68
Exports--Civil	$11.63	$11.67	-0.3%	$13.04	$49.37	$45.57
Exports--Military	$2.29	$2.26	1.2%	$1.90	$9.14	$9.11
Employment (in thousands)	742	781	-5.0%	793	774	799

For more information about AIA's Statistics, please contact stats@aia-aerospace.org.