In 2014, trucking brought in over $700 billion — the highest revenue ever for the industry, according to an American Trucking Associations report.

The report, American Trucking Trends, compiled data on the trucking industry’s size and performance. In it, ATA found that the $700.4 billion generated by trucking last year accounted for 80.3% of all freight transportation spending.

“Last year we saw freight volumes grow significantly,” said Bob Costello, ATA chief economist. “Increases in freight combined with continued tight capacity helped drive revenues and coupled with lower fuel prices we saw motor carriers go on a buying spree for new trucks as they replaced older equipment.”

In 2014, trucks moved 9.96 billion tons of freight, making up 68.8% of all domestic freight. Trucks logged 168.4 billion miles in 2013, an average of 69,000 miles per truck.

The report also found that trucking employed more than 7 million people, 3.4 million of whom were drivers.

“Trends is a valuable resource for showing just how critical – how essential – our industry is,” said Bill Graves, ATA president and CEO. “It is one thing to say trucking is our economy’s lifeblood, but it is quite another to show it.”

The American Trucking Trends report is available for purchase at atabusinesssolutions.com or by calling 866-821-3468.