NAFTA trade hits high mark in March
Jul 1, 2006 12:00 PM
NAFTA trade using surface transportation reached $68.2 billion in March 2006, the highest monthly level recorded since the North American Free Trade Agreement was signed in the mid-1990s, according to Bureau of Transportation Statistics (BTS).
Trade between the United States and its NAFTA partners, Canada and Mexico, was 14.8% higher in March 2006 than in March 2005. Surface transportation consists largely of freight movements by truck, rail, and pipeline. About 90% of US trade by value with Canada and Mexico moves on land.
Total North American surface transportation trade rose 14.1% in March from February. The previous monthly high was $64.0 billion in October 2005.
US-Canada surface transportation trade totaled $44.0 billion in March, up 11.4% compared with March 2005. The value of imports carried by truck was 8.6% higher in March 2006 than March 2005, while the value of exports carried by truck was 13.3% higher.
In March, Michigan led all states in surface trade with Canada for a total of $6.7 billion.
US-Mexico surface transportation trade totaled $24.2 billion in March, up 21.5% compared with March 2005. The value of imports carried by truck was 18.1% higher in March 2006 than March 2005, while the value of exports carried by truck was 21.9% higher.
Texas led all US states in surface trade with Mexico in March with $7.7 billion.
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