NAFTA Surface Trade Takes Record Jump
Surface transportation trade among the United States, Canada and Mexico jumped 24.1% in February from a year ago, the highest gain on record, the Department of Transportation said Thursday.
But the increase to $59.5 billion in trade among the North American Free Trade Agreement partners left the index 14.3% below the level two years earlier, in February 2008.
The upturn was the third straight following December’s 10.5% rise — the first year-over-year gain since September 2008 — and a 19.5% improvement in January.
February’s trade was 4.9% over January, 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.
Truck imports to the United States rose 17% from a year earlier to $19.9 billion, while exports grew 21.5% to $20.1 billion, DOT said.
Rail imports jumped 58.1% to $6.8 billion, while exports increased 34.6% to $3.6 billion. Pipeline imports rose 51.9% to $5 billion, while exports fell 32% to $341 million.
U.S.-Canada trade increased 21.7% to $36.3 billion. The value of truck imports to the U.S. rose 6.4%, while truck exports jumped 23.5%.
U.S.-Mexico trade gained 28% to $23.2 billion. The value of truck imports into the U.S. rose 27.6%, while truck exports rose 18.3%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. Almost 90% of U.S. trade among NAFTA partners moves by land.
