The industry’s performance in the international marketplace this year underscores the importance of high-value, high-technology exports to the American economy. While the U.S. experienced the third largest trade deficit on record, our industry generated $143 billion in exports and a positive trade balance of $86 billion, effectively reducing the U.S. trade deficit by 10 percent. U.S. imports of aerospace and defense goods also grew over the previous year, but not enough to surpass a record high in 2015.
The industry’s performance in the international marketplace this year underscores the importance of high-value, high-technology exports to the American economy. While the U.S. experienced the third largest trade deficit on record, our industry generated $143 billion in exports and a positive trade balance of $86 billion, effectively reducing the U.S. trade deficit by 10 percent. U.S. imports of aerospace and defense goods also grew over the previous year,