NAFTA numbers plummet
by Wally Northway
Published: August 3,2009
Tags: international trade
Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 35.4 percent lower in May 2009 than in May 2008, the biggest decline from the same month of the previous year on record, according to the Bureau of Transportation Statistics.
BTS reported that the value of North American surface trade dropped to $47.9 billion in the fifth consecutive month with a year-to-year decline of greater than 27 percent.
Imports from Canada and Mexico to the U.S. in May were down 38.1 percent from May 2008 while exports from the U.S. declined 32 percent.
The value of U.S. surface transportation trade with Canada and Mexico fell 3.7 percent in May 2009 from April 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 May 2009 was down 9.9 percent compared to May 2004, and up 16.1 percent compared to May 1999. Imports in May were up 12 percent compared to May 1999, while exports were up 21.2 percent.
U.S.–Canada surface transportation trade totaled $29.2 billion in May 2009, down 40.3 percent compared to May 2008. The value of imports carried by truck was 35.7 percent lower in May 2009 compared to May 2008, while the value of exports carried by truck was 33.4 percent lower during this period.
U.S.–Mexico surface transportation trade totaled $18.6 billion in May 2009, down 26 percent compared to May 2008. The value of imports carried by truck was 23.4 percent lower in May 2009 than May 2008 while the value of exports carried by truck was 21.1 percent lower.
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