Surface transportation trade among the United States, Canada and Mexico fell 35.4% in May from a year earlier, the largest year-to-year drop on record, the Department of Transportation said Thursday.
The downturn was the fifth consecutive year-over-year monthly decline of at least 27% between the North American Free Trade Agreement partners.
Month-to-month, trade fell 3.7% in May from April, DOT’s Bureau of Trade Statistics said in its monthly report.
Truck imports to the United States dropped 29.7% to $17.2 billion, while exports fell 29.4% to $17.4 billion.
Rail imports plunged 46.1% to $4.4 billion, while exports fell 38% to $2.8 billion, DOT said. Pipeline imports fell 59.2% to $2.9 billion, while exports declined 52.1%, to $304 million.
U.S.-Canada trade fell 40.3% to $29.2 billion. The value of truck imports fell 35.7% and the value of truck exports fell 33.4%.
U.S.-Mexico trade fell 26% to $18.6 billion. The value of truck imports fell 23.4% and the value of truck exports fell 21.1%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.
