July 2012 Surface Trade with Canada and Mexico up 4.6%
September 27, 2012
Trade using surface transportation between the United States and its North American Free Trade Agreement partners, Canada and Mexico, was 4.6% higher in July 2012 than in July 2011
, totaling $75.7 billion, unadjusted for inflation, according to the Bureau of Transportation Statistics of the U.S. Department of Transportation.
BTS, a part of the Research and Innovative Technology Administration, reported that the 4.6% 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% from July 2011.
The July 2012 value of U.S. surface transportation trade with Canada and Mexico rose 5.7% from July 2008 during the last recession.
The value of U.S. surface transportation trade with Canada and Mexico in July increased by 82.8% compared to July 2002, a period of 10 years. Imports in July were up 66.7% since July 2002, while exports were up 105.1%.
Surface transportation includes freight movements by truck, rail, pipeline, mail, Foreign Trade Zones, and other modes of transport. In July, 86.3% of U.S. trade by value with Canada and Mexico moved via land, 10% moved by vessel, and 3.7% moved by air.
See BTS Transborder Data Release
for summary tables, state rankings and additional data. See North American Transborder Freight Data
for historical data.