NAFTA Trade Rose 4.5% in 2007
Trade among the United States, Canada and Mexico set a record in gaining 4.5% in 2007 from a year earlier, the Department of Transportation said Wednesday.
Trade among the North American Free Trade Agreement partners topped $909 billion for the year, as freight weighing nearly 606 million tons was transported through U.S. land borders, airports, and seaports to and from Canada and Mexico.
Truck trade — by far the largest modal component — rose to $555 billion, from $534 billion in 2006, DOT said.
Rail trade rose to $138 billion from $129 billion year-over-year, while air, pipeline, and water transport rose incrementally at lower levels.
The value of freight shipments among the three grew at an average annual rate of 8.5% per year between 2002 and 2007.
U.S. freight shipments with Mexico rose 8.4% annually, while trade with Canada grew 8.6% per year.
About 90% of U.S. trade among NAFTA partners moves by land.
