July surface trade with Canada, Mexico up 4.6% from last year
The July 2012 value of U.S. surface transportation trade with Canada and Mexico rose 5.7 percent from July 2008 during the last recession.
The Trucker News Services
Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners, Canada and Mexico, was 4.6 percent higher in July 2012 than in July 2011, totaling $75.7 billion, unadjusted for inflation, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation.
BTS, a part of the Research and Innovative Technology Administration, reported that the 4.6 percent annual increase is the lowest year-to-year rise since increases resumed in December 2009 following the recession. The lower growth rate reflects the reduced cost of oil and gas, the largest commodity traded by value. Adjusted for inflation and exchange rates, the July 2012 total was $56.0 billion in 2004 dollars, up 8.8 percent from July 2011.
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The July 2012 value of U.S. surface transportation trade with Canada and Mexico rose 5.7 percent from July 2008 during the last recession. Data in the press release are not adjusted for inflation, except for monthly totals in Figure 1 of the press release.
The value of U.S. surface transportation trade with Canada and Mexico in July increased by 82.8 percent compared to July 2002, a period of 10 years. Imports in July were up 66.7 percent since July 2002, while exports were up 105.1 percent. See Transborder Press Releases for historical data.
Surface transportation includes freight movements by truck, rail, pipeline, mail, Foreign Trade Zones, and other modes of transport. In July, 86.3 percent of U.S. trade by value with Canada and Mexico moved via land, 10.0 percent moved by vessel, and 3.7 percent moved by air.
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