Home » NEWS » Manufacturing » NAFTA numbers record historic low

NAFTA numbers record historic low

Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico decreased by 23.3 percent in 2009 compared to 2008, dropping to $637 billion, according to the Bureau of Transportation Statistics (BTS).

The 23.3 percent decline in trade was the largest year-to-year decline for the 15 years covered by these data. NAFTA went into effect in 1994.

BTS reported that the value of trade by surface transportation with Canada and Mexico decreased by 31.1 percent during the first six months of 2009, compared to the same period in 2008. It decreased by 14.9 percent in the final six months of the year but increased by 10.5 percent in December compared to Dec. 2008.

Total North American surface transportation imports decreased by 26.5 percent in 2009 from 2008, and exports decreased by 19.2 percent during the same period.

In 2009, 86.6 percent of U.S. merchandise trade by value with Canada and Mexico moved on land. Total North American surface transportation trade value in 2009 increased 0.5 percent compared to 2004, and was up 27 percent compared to 1999, a period of 10 years.

U.S.-Canada surface transportation trade totaled $386 billion in 2009, a decrease of 28.1 percent compared to 2008. The value of imports carried by truck was 25.7 percent lower in 2009 than 2008 while the value of exports carried by truck was 20.2 percent lower.

U.S.–Mexico surface transportation trade totaled $251 billion in 2009, a decrease of 14.4 percent compared to 2008. The value of imports carried by truck was 12.2 percent lower in 2009 than in 2008 while the value of exports carried by truck was 10.8 percent lower.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply

Your email address will not be published. Required fields are marked *

*