NAFTA trade falls in December
Mar 4, 2009 2:45 PM
Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners, Canada and Mexico, was 13.1 percent lower in December 2008 than in December 2007, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation.
The trade dropped to $52.9 billion in December, the second straight month with a year-to-year decline of greater than 13 percent.
In addition, the value of US surface transportation trade with Canada and Mexico fell 12.8 percent in December from November. Month-to-month changes can be affected by seasonal variations and other factors, BTS pointed out in its report.
Surface transportation consists largely of freight movements by truck, rail, and pipeline. About 88 percent of US trade by value with Canada and Mexico moves on land.
The value of US surface transportation trade with Canada and Mexico in December was up 16.5 percent compared to December 2003, and up 42.3 percent compared to December 1998, a period of 10 years. Imports in December were up 41.9 percent compared to December 1998, while exports were up 42.9 percent.
United States-Canada trade
United States–Canada surface transportation trade totaled $32.9 billion in December, down 17.0 percent compared to December 2007). The value of imports carried by truck was 15.4 percent lower in December 2008 compared to December 2007, while the value of exports carried by truck was 13.7 percent lower. Michigan led all states in surface trade with Canada in December with $4.0 billion
United States-Mexico trade
United States-Mexico surface transportation trade totaled $20.0 billion in December, down 6.0 percent compared to December 2007. The value of imports carried by truck was 11.8 percent lower in December 2008 than December 2007 while the value of exports carried by truck was 9.7 percent higher. Texas led all states in surface trade with Mexico in December with $6.4 billion.
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