WASHINGTON — U.S. aerospace and defense exports growth has slowed after its robust 60-percent increase from 2010 to 2015, according to a recent report by consultancy firm Deloitte.
The A&D exports contributed to 10 percent of all U.S exports in 2016, an increase from 7 percent in 2010, and its growth has benefited the U.S. export versus import trade balance.
“As a net exporter, the sector reduced the U.S. trade deficit by $85.5 billion and was the top contributor to the U.S. trade balance amongst some of the major sectors,” according to the report.
Since 2015, U.S. A&D growth slipped from 4 percent to 1.7 percent, due to several environmental factors including global competition, the growing strength of the U.S. dollar and limitations in place on the U.S. Export-Import Bank, specifically, its 75 percent decrease in financing since 2014.
Aerospace, The Fastener Museum
