BTS reports October surface trade with NAFTA partners is up 7.9 percent annually
Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was up 7.9 percent in October 2012 compared to October 2011 at $85.3 billion
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The United States Department of Transportation’s Bureau of Transportation Statistics (BTS) said today that trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was up 7.9 percent in October 2012 compared to October 2011 at $85.3 billion, unadjusted for inflation. When adjusted for inflation and exchange rates, October’s value was $61.7 billion, representing a 7.6 percent annual gain.
BTS said that the value of U.S. surface transportation trade with Canada and Mexico in October is up 38.9 percent compared to October 2009, soon after the end of the recession and was up 71.8 percent compared to October 2002. Imports and exports are up 60.1 percent and 87.2 percent, respectively, since October 2002.
Surface transportation, according to the BTS, is comprised mainly of freight movements by truck, trail, and pipeline, mail and Foreign Trade Zones, and nearly 90 percent of U.S. trade by value with Canada and Mexico moves by land. According to the BTS 86.5 percent of U.S. trade by value with Canada and Mexico moved on land in October, with 9.5 percent moving by vessel, and 4.0 percent by air.
U.S.-Canada surface transportation trade in October at $48.4 billion was up 4.3 percent annually, said BTS. Michigan paced all states in surface trade with Canada in October at $6.8 billion.
The value of U.S. surface transportation trade with Mexico was up 13.1 percent year over year in October at $48.4 billion. Texas led all states in surface trade with Mexico in September at $13.6 billion.
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