March Surface Trade with Canada and Mexico Exceeds $85 Billion for First Time
May 30, 2012
March 2012 was the highest month for NATFA trade value since collection of data began in 1994, exceeding $85 billion for the first time and topping the previous record of $80.8 billion in March 2011.
BTS, a part of the Research and Innovative Technology Administration, reported that the March 2012 value of U.S. surface transportation trade with Canada and Mexico rose 21.2% from March 2008, early in the recession, and 68.1% from March 2009, late in the recession. Numbers are not adjusted for inflation.
The value of U.S. surface transportation trade with Canada and Mexico in March increased by 88.2% compared to March 2002, a period of 10 years. Imports in March were up 76.1% since March 2002, while exports were up 104.5%.
Surface transportation includes freight movements by truck, rail, pipeline, mail, Foreign Trade Zones and other modes of transport. In March, 86.2% of U.S. trade by value with Canada and Mexico moved via land, 9.8% moved by vessel and 4% moved by air. The value of U.S. surface transportation trade with Canada and Mexico increased 9.8% in March 2012 from February 2012. Month-to-month changes can be affected by seasonal variations and other factors.
U.S.-Canada and U.S.-Mexico surface transportation trade in March 2012 both increased compared to March 2011 with U.S.-Canada trade reaching $50.1 billion, a 2.9% increase, and U.S.-Mexico trade reaching $35.7 billion, an 11.2% increase.
In March, Michigan led all states in surface trade with Canada as it has in previous years, at $6.3 billion, a 3% increase from March 2011. Of the top 10 states by value, Illinois had the largest percentage increase over March 2011, at 16.5%.
The top commodity category transported between the U.S. and Canada by surface modes of transportation in March was vehicles (other than railway), valued at $9.6 billion.
Texas also continued to lead all states in surface trade with Mexico at $12.6 billion, a 11.5% increase from March 2011. This is the highest monthly level of trading by any state with Mexico and the first time on record that any state has had more than $12 billion of monthly trade with Mexico. Of the top 10 states by value, Tennessee had the biggest percentage increase, 26.3%. The top commodity category transported between the U.S. and Mexico by surface modes of transportation in March was electrical machinery with $7.6 billion in trade.