NAFTA transportation trade moves up in 2008
Mar 24, 2009 3:39 PM
Surface transportation trade between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 4.1 percent higher in 2008 than in 2007.
According to the Bureau of Transportation Statistics of the Department of Transportation, the trade reached $830 billion in 2008.
The 4.1 percent rate of growth was the smallest year-to-year growth rate since 2003.
Transportation trade with Canada and Mexico grew 8.6 percent during the first six months of 2008, compared to the same period in 2007. It declined 0.3 percent in the final six months and 9.4 percent in the October-to-December period compared to 2007.
Total North American surface transportation imports rose 2.7 percent in 2008 from 2007, and exports rose by 5.9 percent during the same period.
In 2008, 86 percent of US merchandise trade by value with Canada and Mexico moved on land. Total North American surface transportation trade value in 2008 was up 47.5 percent compared to 2003, and up 83.7 percent compared to 1998, a period of 10 years.
United States-Canada trade
United States–Canada surface transportation trade totaled $537 billion in 2008, up 5.1 percent compared to 2007. The value of imports carried by truck was 6.0 percent lower in 2008 than 2007 while the value of exports carried by truck was 2.4 percent higher. Michigan led all states in surface trade with Canada in 2008 with $67.0 billion.
United States–Mexico surface transportation trade totaled $293 billion in 2008, up 2.3 percent compared to 2007. The value of imports carried by truck was 2.1 percent lower in 2008 than 2007 while the value of exports carried by truck was 7.8 percent higher. Texas led all states in surface trade with Mexico in 2008 with $94.1 billion.
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