NAFTA Trade Falls 30.9% in Record Decline
Surface transportation trade among the United States, Canada and Mexico plunged 30.9% in February from a year earlier, the biggest year-to-year decline on record, the Department of Transportation said Thursday.
During the first two months of 2009, the value of surface trade among the North American Free Trade Agreement partners fell 29.1% from the same period last year, DOT’s Bureau of Trade Statistics said in its monthly report.
Truck imports to the United States plunged 29.3% to $17 billion, while exports fell 23.6% to $17.2 billion.
Rail imports plummeted 43.1% to $4.3 billion, while exports fell 37.5% to $2.7 billion, DOT said. Pipeline imports fell 51.4% to $3.3 billion, while exports declined 43.5%, to $508 million.
U.S.-Canada trade fell 33.8% to $29.8 billion. The value of truck imports fell 32% and the value of truck exports fell 28.1%.
U.S.-Mexico trade fell 25.7% to $18.1 billion. The value of truck imports fell 26.4% and the value of truck exports fell 15.4%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.
