Wednesday, May 30, 2012

March North American Surface Freight Statistics Hit Record High

Trade with Canada and Mexico Exceeds $85 Billion for the First Time
Shipping News Feature

NORTH AMERICA - Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners, Canada and Mexico, was 6.2% higher in March 2012 than in March 2011, totalling $85.8 billion, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation. March 2012 was the highest month for the NATFA freight trade value since collection of data began in 1994, exceeding $85 billion for the first time and topping the previous record of $80.8 billion in March 2011.

BTS, a part of the Research and Innovative Technology Administration, reported that the March 2012 value of U.S. surface transportation trade with Canada and Mexico rose 21.2% from March 2008, early in the recession, and 68.1% from March 2009, late in the recession, the numbers naturally do not allow for inflation. The value of U.S. surface transportation trade with Canada and Mexico in March increased by 88.2 % compared to March 2002, a period of 10 years. Imports in March were up 76.1% since March 2002, while exports were up 104.5%.

Surface transportation includes freight movements by truck, rail, pipeline, mail, Foreign Trade Zones, inland water borne cargo and other modes of transport. In March, 86.2% of U.S. trade by value with Canada and Mexico moved via land, 9.8% moved by vessel, and 4.0% moved by air. U.S.- Canada and U.S.- Mexico surface transportation trade in March 2012 both increased compared to March 2011 with U.S.- Canada trade reaching $50.1 billion, a 2.9% increase, and U.S.- Mexico trade reaching $35.7 billion, an 11.2% increase.

Full surface transported trade figures can be seen HERE whilst historical data can be viewed HERE.