NAFTA Surface Trade Sees Highest Gain in 10 Years
Surface transportation trade among the United States, Canada and Mexico rose 19.5% in January from a year ago, the highest gain in almost 10 years, the Department of Transportation said Tuesday.
The improvement to $56.7 billion in trade among the North American Free Trade Agreement partners was the largest year-to-year increase since March 2000.
It marked the second straight increase following December’s 10.5% rise, which had been the first year-over-year increase since September 2008.
Trade from December to January fell 3%, though month-to-month changes can be affected by seasonal variations and other factors, DOT’s Bureau of Trade Statistics said in its monthly report.
DOT said earlier this month that NAFTA surface trade for all of last year declined 23.9% from 2008. (Click here for previous story.)
January truck imports to the United States rose 13.3% from a year earlier to $18.8 billion, while exports grew 14.8% to $19.8 billion, DOT said.
Rail imports jumped 64.5% to $6.6 billion, while exports increased 28.6% to $3.2 billion. Pipeline imports rose 29% to $4.9 billion, while exports gained 23.7% to $452 million.
U.S.-Canada trade rose 18% to $34.2 billion. The value of truck imports to the U.S. rose 7.2%, while truck exports jumped 17.1%.
U.S.-Mexico trade increased 21.7% to $22.5 billion. The value of truck imports into the U.S. rose 18.9%, while truck exports rose 11.5%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. Almost 90% of U.S. trade among NAFTA partners moves by land.
