Surface trade with Canada, Mexico reached record high in October

user-gravatar

Trade using surface transportation between the United States and its North American Free Trade Agreement partners Canada and Mexico was 11.1 percent higher in October 2007 than in October 2006, reaching $74.2 billion, the highest monthly level ever recorded, according to the Bureau of Transportation Statistics of the U.S. Department of Transportation.

BTS, a part of the Research and Innovative Technology Administration, reported today, Jan. 7, that the value of North American surface trade in October topped the previous monthly high of $69.8 billion in March 2007 by 6.4 percent.

The value of U.S. surface transportation trade with Canada and Mexico rose 11.2 percent in October from September. Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90 percent of U.S. trade by value with Canada and Mexico moves on land.

The value of U.S. surface transportation trade with Canada and Mexico in October was up 49.6 percent compared to October 2002, and up 87.1 percent compared to October 1997, a period of 10 years. Imports in October were up 100.7 percent compared to October 1997, while exports were up 72.0 percent.

U.S.-Canada surface transportation trade totaled $47.7 billion in October, up 14.1 percent compared to October 2006. The value of imports carried by truck was 6.1 percent higher in October 2007 than October 2006, while the value of exports carried by truck was 17.8 percent higher. Michigan led all states in surface trade with Canada in October with $7.6 billion.

U.S.-Mexico surface transportation trade totaled $26.6 billion in October, up 6.0 percent compared to October 2006. The value of imports carried by truck was 10.6 percent higher in October 2007 than October 2006, while the value of exports carried by truck was 3.1 percent higher. Texas led all states in surface trade with Mexico in October with $8.2 billion.

The TransBorder Freight Data are a unique subset of official U.S. foreign trade statistics released by the U.S. Census Bureau. New data are tabulated monthly, and historical data are not adjusted for inflation. October TransBorder numbers include data received by BTS as of Dec. 13.