Nafta Truck Trade Grows to $59 Billion in May
The value of commodities moved by truck among the United States, Canada and Mexico increased 1.3% to $59.3 billion in May, the Department of Transportation announced.
Trade among the North American Free Trade Agreement partners dipped 3.1% to $89.8 billion, DOT’s Bureau of Transportation Statistics said July 28 in its monthly report. May was the 17th consecutive month that total U.S.-Nafta freight value declined year-over-year.
Trucks carried 66% of the freight by value among the Nafta nations. Freight carried by vessel, train, pipeline and air all declined, BTS said.
Truck imports to the United States from the two countries increased 8.3% to $31.2 billion, and exports dipped 5.5% to $28 billion.
“A drop in the price of crude oil played a key role in the large declines in the dollar value of products shipped by vessel and pipeline. Crude oil (a component of mineral fuels) comprises a large share of the commodities carried by these modes,” according to the report.
