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NAFTA surface trade drops to record low in May

WASHINGTON, D.C. -- Trade using surface transportation between Canada, the US and Mexico was down a whopping 3...


WASHINGTON, D.C. — Trade using surface transportation between Canada, the US and Mexico was down a whopping 35.4% in May, the biggest decline from the same month of the previous year on record, according to the Bureau of Transportation Statistics (BTS) of the US Department of Transportation.

 

BTS reported that the value of North American surface trade dropped to $47.9 billion in the fifth consecutive month with a year-to-year decline of greater than 27%. Imports from Canada and Mexico to the US in May were down 38.1% from May 2008 while exports from the US declined 32.0%.

 

Surface transportation consists largely of freight movements by truck, rail and pipeline. About 88% of US trade by value with Canada and Mexico moves on land.

 

The value of US surface transportation trade with Canada and Mexico fell 3.7% in May from April.

 

The value of US surface transportation trade with Canada and Mexico in May was down 9.9% compared to May 2004, and up 16.1% compared to May 1999. Imports in May were up 12.0% compared to May 1999, while exports were up 21.2%.

 

US-Canada surface transportation trade totalled $29.2 billion in May, down 40.3% compared to May 2008. The value of imports carried by truck was 35.7% lower in May compared to May 2008, while the value of exports carried by truck was 33.4% lower during this period.

 

Michigan led all states in surface trade with Canada in May with $2.8 billion.


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