NAFTA Trade Decline Slows
The decline in surface transportation trade among the United States, Canada and Mexico slowed in October from a year ago compared with comparable figures for September, the Department of Transportation said Wednesday.
Trade among the North American Free Trade Agreement partners fell 15.5% year-to-year in October, to $61.4 billion, compared with September’s 20.2% year-to-year decline, DOT said.
Truck imports to the United States fell 9.9% to $21.5 billion from a year earlier, while exports fell 11.1% to $22.5 billion, a slight improvement from September.
Rail imports fell 17.5% to $6.3 billion, while exports fell 30.1% to $3.4 billion. Pipeline imports plunged 37.9% to $4.2 billion, while exports declined 21.8% to $237 million.
U.S.-Canada trade fell 19% to $36.3 billion, while the value of truck imports to the U.S. fell 15.8% and the value of truck exports fell 9.5%.
U.S.-Mexico trade fell 10% to $25.1 billion. The value of truck imports fell 4.2% and the value of truck exports fell 13.5%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.
