NAFTA Trade Hits Record Over $85 Billion
Surface trade among the United States, Canada and Mexico jumped to a record in March, topping $85 billion for the first time, the Department of Transportation said Tuesday.
Trade among the North American Free Trade Agreement partners rose 6.2% from the same month last year, to $85.8 billion, DOT’s Bureau of Trade Statistics said in its monthly report.
The previous monthly NAFTA surface trade record was $80.8 billion, set in March 2011. DOT began collecting such data in 1994.
Month-to-month trade, which is affected by seasonal factors, rose 9.8% from February.
U.S.-Canada trade rose 2.9% from a year earlier to $50.1 billion, while U.S.-Mexico trade jumped 11.2% to $35.7 billion.
Truck imports to the United States climbed 5.3% year-over-year to $28.9 billion. Exports rose 6.2% to $30.8 billion.
Rail imports rose 11.9% to $9.4 billion, while exports gained 10.3% to $5.3 billion. Pipeline imports increased 7.5% to $6.4 billion while exports jumped 22% to $890 million.
Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.
