Imports of large aircraft in the first nine months of 2012 were 51 units worth €2.2 billion. In the same period in 2013 there have been 21 units imports worth €0.7 billion. The most notable changes are the reductions in aircraft imported from Brazil and the United States (which were usefully explained in a comment to the previous post).
The impact of these large changes relative to 2012 is that the balance of trade will be improved and the level of investment (fixed capital formation) will be reduced. The €1.5 billion reduction in aircraft investment will be a significant drag on the measure of “domestic demand” that will be published with next week’s quarterly national accounts but the impact on the ground will be negligible.
As item 792.50 shows imports of spacecraft remain zero. Maybe we don’t need any for the economy “to take off like a rocket”.Tweet