Ever since the creation of the controversial trade agreement, NAFTA, political and economic climates have been consistently destabilized causing two polar opposite views on the effectiveness of this trade agreement. This article is simply a look at last month’s stats surrounding NAFTA and not the entire context of this agreement’s existence.
The value of U.S. trade with Canada and Mexico in September decreased by 8.8% year-over-year to $93.2 billion, although truck freight value slipped by just 0.1%, according to the U.S. Department of Transportation.
Vessel freight values decreased 38.9%, and pipeline freight decreased 41.8% mainly due to the lower unit price of mineral fuel. Air decreased by 4% and rail by 12.2%.
Trucks carried 65.7% of U.S.-Nafta freight and are the most heavily utilized mode for moving goods to and from both U.S.-Nafta partners. Trucks accounted for $31.7 billion of the $50.5 billion of imports (62.8%) and $29.6 billion of the $42.7 billion of exports (69.2%).
The value of U.S.-Canada freight totaled $48.3 billion in September 2015, down 15.8% from September 2014, as all modes of transportation carried less value of U.S.-Canada freight than a year earlier. Trucks carried 59.1% of the freight to and from Canada.
The value of U.S.-Mexico freight totaled $45 billion in September 2015, up 0.2% from September 2014, as rail and truck carried more U.S.-Mexico freight than in September 2014. The value of U.S.-Mexico truck freight rose 7.9%, the largest percentage increase of any mode.
The top three commodities carried by truck had double-digit increases in value: electrical machinery up 16.3%, computer equipment up 10.2% and vehicles and parts up 12.9%.
Trucks carried 72.8% of the freight to and from Mexico.
© 2015, Transport Topics, American Trucking Associations Inc.
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