U.S Exported Nearly $40 Billion In Air Travel Services

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, according to data released by industry trade organization Airlines for America (A4A). The group said that activity 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."

FMI: www.airlines.org