NAFTA trade drops in October
Jan 9, 2009 10:59 AM
Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 2.1 percent lower in October 2008 than in October 2007, reaching $72.7 billion, according to US Department of Transportation data.
The value of US surface transportation trade with Canada and Mexico rose 1.2 percent in October from September. Month-to-month changes can be affected by seasonal variations and other factors.
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 October was up 38.8 percent compared to October 2003, and up 74.9 percent compared to October 1998, a period of 10 years. Imports in October were up 75 percent compared to October 1998, while exports were up 74.8 percent.
United States-Canada trade
United States–Canada surface transportation trade totaled $44.8 billion in October, down 6.1 percent compared to October 2007. The value of imports carried by truck was 17.5 percent lower in October 2008 compared to October 2007, while the value of exports carried by truck was 9.5 percent lower. Michigan led all states in surface trade with Canada in October with $5.3 billion.
United States-Mexico trade
United States–Mexico surface transportation trade totaled $27.9 billion in October, up 5.1 percent compared to October 2007. The value of imports carried by truck was 5.9 percent lower in October 2008 than October 2007 while the value of exports carried by truck was 18.4 percent higher. Texas led all states in surface trade with Mexico in October with $9.0 billion.
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