NAFTA Trade Declines 28%

Nov 02, 2009

Trade using surface transportation between the United States and its North American Free Trade Agreementpartners Canada and Mexico dropped 28% from July 2008 to July 2009, dropping to $51.5 billion in the seventh consecutive month with a year-to-year decline of greater than 27%, the Bureau of Transportation Statistics of the U.S. Department of Transportation said Sept. 30.

 

BTS, a part of the Research and Innovative Technology Administration, reported that the value of U.S. surface transportation trade with Canada and Mexico rose 1.6% in July 2009 from June 2009; month-to-month changes can be affected by seasonal variations and other factors. The value of U.S. surface transportation trade with Canada and Mexico in July was up 7.2% compared to July 2004, and up 38.1% compared to July 1999. Imports in July were up 30.1% compared to July 1999, while exports were up 48.6%.

 

The TransBorder Freight Data are a unique subset of official U.S. foreign trade statistics released by the U.S. Census Bureau; new data are tabulated monthly, and historical data are not adjusted for inflation. Surface transportation consists largely of freight movements by truck, rail and pipeline; about 88% of U.S. trade by value with Canada and Mexico moves on land.

 

Photo courtesy of alltheengineer under the Creative Commons License.