NAFTA Surface Trade Sees Biggest Plunge on Record

Surface transportation trade among the United States, Canada and Mexico plunged 27.2%, the biggest percentage decline on record, to $47.5 billion in January from a year ago, the Department of Transportation said Tuesday.

The monthly decline from December was 10.3%, DOT said.

Overall truck imports to the United States plunged 26.1% year-over-year to $16.6 billion, while exports fell 21.2% to $17.2 billion.

Rail imports plunged 39.4% to $4 billion, while exports fell 35.8% to $2.5 billion, DOT said.

Pipeline imports fell 36.6% to $3.8 billion, while exports decline 12.6%, to $366 million.

U.S.-Canada trade fell 31.1% to $29 billion. The value of truck imports fell 31.3%, while exports fell 27.2%.

U.S.-Mexico trade fell 20% to $18.5 billion. The value of truck imports fell 20.5%, while exports fell 10.7%.

Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.