NAFTA Surface Trade up 12% Year Over Year
January 6, 2012
Trade using surface transportation between the U.S. and trading partners Canada and Mexico was 12% higher in October 2011 than in October 2010, totaling $79 billion, according to the U.S. Department of Transportation.
The DOT's Bureau of Transportation Statistics reported that the value of U.S. surface transportation trade with Canada and Mexico, the United States' North American Free Trade Agreement (NAFTA) partners, in October rose 28.7% over the past two years and by 65.9% over the past 10 years.
Imports in October were up 57.8% since October 2001, while exports were up 76.4%.
Surface transportation includes freight movements by truck, rail, pipeline, mail, Foreign Trade Zones, and other. In October, 86.1% of U.S. trade by value with Canada and Mexico moved via land, 9.6% moved by vessel, and 4.3% by air.
The value of U.S. surface transportation trade with Canada and Mexico increased 1.7% in October 2011 from September 2011, but the agency cautions that month-to-month changes can be affected by seasonal variations and other factors.
U.S.-Canada and U.S.-Mexico surface transportation trade both increased compared to October 2010, with U.S.-Canada reaching $46.4 billion, a 14.1% increase, and U.S.-Mexico reaching $32.6 billion, a 9.1% increase.