FOR IMMEDIATE RELEASE NEWS
February 13, 2017
U.S. Aerospace & Defense Industry Posts $90 Billion Trade Surplus in 2016.
Aerospace and defense generated the largest trade surplus of any U.S. industry – $90 billion in 2016 – a distinction the industry has enjoyed for several decades.
Arlington, Va. — The Aerospace Industries Association today released data showing that the U.S. aerospace and defense industry generated a $90 billion trade surplus in 2016 – the largest of any industry. The industry also continued its fifth year of outperforming the national trade average, growing by 2.2% year-over-year compared to -3.3% for exports of all other U.S. goods. Aerospace and defense exports directly support 1.7 million U.S. jobs in our industry and indirectly support an additional 1.1 million jobs across the broader U.S. economy.
While aerospace and defense trade is winning for America, contributing positively to our trade balance and creating high-skill high-paying jobs, competitors are growing their share of the global market far faster. Increasing exports is a key priority of AIA’s advocacy; through greater industry-government coordination and trade policies like security cooperation enterprise reform and restoring full functionality to the Export-Import Bank, our industry can increase its potential to create jobs and contribute to America’s economic growth.
Highlights of the quarterly trade data released today include:
· In 2016, the U.S. aerospace and defense industry shipped a record $146 billion of exports – an increase of 52% over the past five years.
· Aerospace and defense accounted for 10% of all U.S. exports in goods and is the nation’s second largest gross exporter.
· Aerospace and defense generated the largest trade surplus of any U.S. industry – $90 billion in 2016 – a distinction the industry has enjoyed for several decades.
· Civil aerospace exports accounted for 85% of total aerospace and defense exports in 2016 while defense accounted for the remaining 15%.
· Europe was the aerospace and defense industry’s largest export destination, accounting for 34% of total U.S. aerospace and defense exports in 2016. Exports to the region have grown by 39% since 2011.
To access AIA’s quarterly trade report, please visit our Research Center at: http://www.aia-aerospace.org/research-center/statistics/industry-data/foreign-trade/.
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CONTACT: Dan Stohr
(703) 358-1078 office
(703) 517-8173 cell
dan.stohr@aia-aerospace.org
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