Wednesday, March 20, 2013
Report: 2012 Air Travel Exports Highest in U.S. History
U.S. airlines exported $39.5 billion in air-travel services, an all-time high, according to a report released by the U.S. Department of Commerce Bureau of Economic Analysis.
The nearly $40 billion in exports helped to produce a trade surplus for the fourth consecutive year, as U.S. citizens imported $34.4 billion worth of air travel in 2012, 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." More