Thursday, January 18, 2018

NAFTA trade soars in February, compared to year before


Thursday, April 29, 2010
The 24.1 percent increase in NAFTA trade is the largest year-over-year rise on record but freight value still remained 14.3 percent less than the value in February 2008, according to the government report.
The 24.1 percent increase in NAFTA trade is the largest year-over-year rise on record but freight value still remained 14.3 percent less than the value in February 2008, according to the government report.

WASHINGTON — Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 24.1 percent higher in February 2010 than in February 2009, reaching $59.5 billion, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation.

The 24.1 percent increase is the largest year-over-year rise on record but freight value still remained 14.3 percent less than the value in February 2008, according to the government report.

The value of U.S. surface transportation trade with Canada and Mexico rose 4.9 percent in February 2010 from January 2010.  Month-to-month changes can be affected by seasonal variations and other factors, said BTS, a part of the Research and Innovative Technology Administration.

Surface transportation consists largely of freight movements by truck, rail and pipeline. In February, 87.6 percent of U.S. trade by value with Canada and Mexico moved on land.

The value of U.S. surface transportation trade with Canada and Mexico in February was up 11.0 percent compared to February 2005, and up 29.6 percent compared to February 2000, a period of 10 years. Imports in February were up 28.3 percent compared to February 2000, while exports were up 31.2 percent.

U.S.–Canada surface transportation trade totaled $36.3 billion in February, up 21.7 percent compared to February 2009. The value of imports carried by truck was 6.4 percent higher in February 2010 compared to February 2009, while the value of exports carried by truck was 23.5 percent higher during this period.

Michigan led all states in surface trade with Canada in February with $5.2 billion.

U.S.–Mexico surface transportation trade totaled $23.2 billion in February, up 28.0 percent compared to February 2009. The value of imports carried by truck was 27.6 percent higher in February 2010 than February 2009 while the value of exports carried by truck was 18.3 percent higher.

Texas led all states in surface trade with Mexico in February with $8.1 billion.

The TransBorder Freight Data are a unique subset of official U.S. foreign trade statistics released by the U.S. Census Bureau. New data are tabulated monthly and historical data are not adjusted for inflation. February TransBorder numbers include data received by BTS as of April 13.

BTS will release March TransBorder numbers on June 1.

Kevin Jones of The Trucker staff can be reached for comment at kevinj@thetrucker.com.

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