Strong aerospace sector buoys U.S. trade deficit

ARLINGTON, Va., 8 March 2005. The U.S. aerospace industry expanded its foreign trade surplus in 2004, increasing the positive balance by $4 billion to reach $31 billion, AIA announced Monday.

ARLINGTON, Va., 8 March 2005. The U.S. aerospace industry expanded its foreign trade surplus in 2004, increasing the positive balance by $4 billion to reach $31 billion, AIA announced Monday.

The national trade deficit for 2004 was a record $617.7 billion, the U.S. Commerce Department reported. That number was up $121 billion from 2003, the previous annual record.

This news underscores the industry's importance, AIA President and CEO John W. Douglass said, especially with earlier positive reports on sales and employment.
"Aerospace has proven once again it is a huge boon to the U.S. economy in more than one measure."

According to statistics complied by the AIA Aerospace Research Center, the industry saw an increase in exports of $4.3 billion and an increase in imports of approximately $400 million. The positive trade balance in 2003 was $27 billion.

Foreign sales rose 8 percent to $57 billion in 2004, including a $1 billion increase in military exports and $3.3 billion jump in civil aerospace exports. While commercial aircraft exports were down about $900 million, other areas made up for the decrease. For example, general aviation exports jumped approximately $600 million and helicopter sales rose 54 percent to $313 million. Exports of complete engines, engine parts and aircraft parts increased $2.6 billion.

Exports of spacecraft, satellites, and parts increased dramatically, doubling to $575 million.

For detailed aerospace trade data go to http://www.aia-aerospace.org/stats/aero_stats/aero_stats.cfm.

Founded in 1919, the Aerospace Industries Association (AIA) is the premier trade association representing the nation's manufacturers of commercial, military and business aircraft, helicopters, aircraft engines, missiles, spacecraft, materials, and related components and equipment. For more information, see www.aia-aerospace.org.

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