WASHINGTON, D.C. — Surface trade between the US, Canada and Mexico experienced its sharpest year-over-year drop ever in February.
Trade using surface transport modes declined 30.9% in February, compared to Feb. 08, the US Department of Transportation’s Bureau of Transportation Statistics reported today.
Surface trade between the three nations totaled just US$47.9 billion in February. It marked the fourth consecutive month with a yearly decline of more than 13%, the DoT reported.
For the first two months of 09, the value of NAFTA surface trade fell 29.1% compared to the first two months of 2008.
Specifically, surface trade between the US and Canada was down 33.8% over the previous February. The value of goods trucked into the US was 32% less than February of 08 and the value of goods trucked into Canada from the US was 28.1% lower than the previous February.
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