BTS Sees Strong Growth in May of Trade With Canada, Mexico
Trade via surface transportation between the U.S. and North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 8.3 percent higher in May 2012 than in May 2011, totaling $83.8 billion, unadjusted for inflation, said the Transportation Department's Bureau of Transportation Statistics. Adjusted for inflation and exchange rates, the May 2012 total was $60.7 billion in 2004 dollars, up 11.7 percent from May 2011.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
The value of U.S. surface transportation trade with Canada and Mexico increased 5.0 percent in May 2012 from April 2012 (Table 2). Month-to-month changes can be affected by seasonal variations and other factors.
Surface transportation includes freight movements by truck, rail, pipeline, mail, Foreign Trade Zones, and other modes of transport. In May, 86.5 percent of U.S. trade by value with Canada and Mexico moved via land, 9.6 percent moved by vessel, and 3.8 percent moved by air, BTS said.
U.S. trade by surface transportation with Mexico has increased at a faster pace than trade with Canada. U.S.-Canada trade reached $48.1 billion, a 4 percent increase, and U.S.-Mexico trade reached $35.6 billion, up 14.9 percent.
The top commodity category transported between the U.S. and Canada by surface modes of transportation in May was vehicles, valued at $9.5 billion, BTS said.