U.S. Airlines Help Nation Reduce Trade Deficit by More Than $5 Billion in 2012
U.S. Exports of Air Travel Reached an All-Time High of Nearly $40 Billion, Fueling an Air Travel Trade Surplus for the Fourth Consecutive Year
WASHINGTON, March 19, 2013 /PRNewswire-USNewswire/ -- Airlines for America® (A4A), the industry trade organization for the leading U.S. airlines, today reported that U.S. airlines helped the nation reduce its trade deficit in 2012, by exporting $39.5 billion in air-travel services, an all-time high, which helped produce a trade surplus for the fourth year in a row. According to data released by the U.S. Department of Commerce Bureau of Economic Analysis, U.S. citizens imported $34.4 billion worth of air travel, up from $31.1 billion in 2011, resulting in a trade surplus of $5.1 billion.
"Last year, U.S. airlines directly reduced the U.S. trade deficit by more than $5 billion," said John Heimlich Vice President and Chief Economist for Airlines for America. "Non-U.S. residents purchased nearly $40 billion worth of air travel from U.S. airlines, an all-time high. This speaks directly to the industry's increasing global competitiveness and the diverse economic benefits that accrue to the nation from the U.S. airlines' profitable growth."
Annually, commercial aviation helps drive more than $1 trillion in U.S. economic activity and more than 10 million U.S. jobs. A4A airline members and their affiliates transport more than 90 percent of all U.S. airline passenger and cargo traffic. America needs a cohesive National Airline Policy that will support the integral role the nation's airlines play in connecting people and goods globally, spur the nation's economic growth and create more high-paying jobs.
SOURCE Airlines for America