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Surface Trade Up 6.8% This May
Surface transportation trade among NAFTA partners Canada, the United States, and Mexico closed 6.8% higher in the month of May when compared to last year, reportedly totaling $74.1 billion. This information was recently released by the Bureau of Transportation Statistics.
Surface transportation, which covers roughly 88% of trade between the U.S., Canada, and Mexico, is primarily done by rail, pipeline, and truck freight. The value of total trade between the NAFTA partners actually fell 0.3% from April to May, but has actually risen nearly 100% over the last 10 years. This May, imports were up 101.6% compared to May 1998, and exports have gone up 84.9%.
Surface trade between Canada and the U.S. rose 10.5% to $48.9 billion in comparison to May 2007. Exports rose 10%, while imports actually fell 6.2%. The state of Michigan was the lead trader with a total of $5.9 billion in trade with Canada this May.
Surface trade between Mexico and the U.S. rose 0.2% to $25.2 billion in comparison to May 2007. Exports fell 3.6%, while imports rose 0.9%. The state of Texas was the lead trader with a total of $8.1 billion in trade with Mexico this May.
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Tags: Trucking : Industry
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