Cross-Border Freight Value Posts First Hike in More Than a Year
The total value of U.S. freight moved between Canada and Mexico during August posted its first year-over-year increase since December 2014, according to new Transportation Department figures.
U.S.-NAFTA freight value percent change from previous year over the last 24 months. Graphic: U.S. DOT
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U.S.-NAFTA freight value percent change from previous year over the last 24 months. Graphic: U.S. DOT
The total value of U.S. freight moved between Canada and Mexico during August posted its first year-over-year increase since December 2014, according to new Transportation Department figures.
The resulting 0.7% increase from August 2015 also came as just two transportation modes, truck and air, carried more cross-border freight by value.
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The value of commodities moving by truck and air increased 3.4% and 4.9%, respectively, while the value of freight carried by rail fell 0.3%. Pipeline declined 4.5% and vessel dropped 12.5%. The overall value totaled $93.1 billion.
Trucks carried 65.3% of the freight moved with North American Free Trade Agreement (NAFTA) partners Canada and Mexico. Trucking accounted for $31.2 billion of the $49.7 billion of imports, or 62.8%, and $29.6 billion of the $43.4 billion of exports, 68.3%.
Rail remained the second largest mode by value, moving 15.3% of all U.S.-NAFTA freight.
Much of the earlier year-over-year declines were due to the dramatic drop in the price of crude oil compared to two years ago.
U.S.-Canada Freight Value Slips
From August 2015 to August 2016, air, rail, and truck carried a higher value of U.S.-Canada freight than a year earlier. However, the total value of U.S.-Canada freight fell to $47.3 billion, down 1.4% from a year earlier, due to decreases in the value of goods moved by vessel and pipeline.
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The top commodity category transported between the U.S. and Canada by all modes was vehicles and parts, of which $5.2 billion, or 55.1%, moved by truck and $4 billion, or 42.5%, moved by rail.
Trucks carried 59.6% of the value of the freight to and from Canada. Rail carried 16.5%, followed by pipeline, 9%; air, 4.7%; and vessel, 3.8%.
U.S.-Mexico Freight Value Increases
In August the value of U.S.-Mexico freight increased 3% from the same time a year ago to $45.8 as pipeline, truck and air carried a higher value of U.S.-Mexico freight than a year earlier.
Freight carried by pipeline increased by 45.1%, truck by 5.4% and air by 0.1%. Rail decreased 3.8% and vessel declined by 4.9%
The top commodity category transported between the U.S. and Mexico by all modes in August was electrical machinery, of which $7.4 billion, or 79.5%, moved by truck.
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Trucks carried 71.2% of the value of freight to and from Mexico. Rail carried 14.1% followed by vessel, 7.8%; air, 2.8%; and pipeline, 1.1%.
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