Monthly Surface Trade with Canada and Mexico Jumps 11.1% in August
U.S. monthly surface transportation trade in goods with NAFTA partners Canada and Mexico jumped 11.1% in August after a 6.7% fall in July, according to statistics released Nov. 1 by the Department of Transportation. The August total of $80.4 billion was up 18.3% from a year before and represents only the second time on record that the monthly figure has exceeded $80 billion. Over the last ten years total surface transportation trade with Canada and Mexico has risen 70.6%, including an 84.8% gain for exports and a 59.7% increase for imports.
Surface transportation includes freight movements by truck, rail, pipeline, mail, foreign-trade zones and other modes and in August accounted for 86.0% of U.S. trade by value with Canada and Mexico. Surface trade between the U.S. and Canada totaled $47.5 billion, up 11.8% from July and 19.1% from a year before. Exports gained 12.5% for the month and were up 18.2% from the previous August, while imports saw an 11.0% monthly increase and a 19.9% rise year-on-year. U.S.-Mexico surface transportation trade totaled $32.9 billion, up 10% from July and 17.2% higher than the previous year. Exports and imports were up 12.2% and 8.7%, respectively, for the month and were up 22.1% and 13.4% over August 2010.