NAFTA Surface Trade Takes Record Jump
Surface transportation trade among the United States, Canada and Mexico jumped 37% in March from a year ago, the highest gain on record, the Department of Transportation said Tuesday.
The increase to $69.9 billion in trade among the North American Free Trade Agreement partners left the index 1.2% below the level two years earlier.
Trade jumped 17.9% over February’s level, 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.
The year-to-year increase was the fourth straight following February’s 24.1% increase, which had been a record jump. December had been the first year-over-year gain since September 2008.
Truck imports to the United States rose 29.2% from a year earlier to $21.7 billion, while exports grew 30.9% to $24.8 billion, DOT said.
Rail imports jumped 67.2% to $7.7 billion, while exports increased 56% to $4.3 billion. Pipeline imports rose 79.5% to $5 billion, while exports jumped 111.2% to $603 million.
U.S.-Canada trade increased 35.6% to $42.1 billion. The value of truck imports to the U.S. rose 19.4%, while truck exports jumped 30.4%.
U.S.-Mexico trade gained 39.1% to $27.8 billion. The value of truck imports into the U.S. rose 39%, while truck exports rose 31.6%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. Almost 90% of U.S. trade among NAFTA partners moves by land.
