US aerospace has wings

8 March 2005

The US aerospace industry expanded its foreign trade surplus in 2004, increasing the positive balance by $4 billion to reach $31 billion, Aerospace Industries Association (AIA) announced yesterday.

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 eight percent to $57 billion in 2004, including a $1 billion increase in military exports and a $3.3 billion jump in civil aerospace exports.

While commercial aircraft exports were down about $900 million, other areas made up for the decrease. 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.