NAFTA Freight Flows Fall 6.8% in November
Monthly freight flows between the U.S. and its NAFTA partners declined to $96.1 billion in November, according to statistics released Jan. 29 by the Department of Transportation. These statistics show that the value of total U.S. trade with Canada and Mexico by all modes of transportation :
- slumped 6.8% from their record high a month before;
- grew 1.3% from November 2012, including increases of 2.5% for truck, 2.2% for rail and 7.4% for pipeline (including a 10.4% increase in imports that offset a 13.1% decline in exports) along with decreases of 8.4% for vessel (where a 21.2% drop in imports overshadowed a 14.0% gain in exports) and 4.0% for air (including a 9.2% fall for imports); and
- was up 51.6% compared to November 2004, including 44.6% for truck, 58.5% for rail, 78.5% for pipeline, 42.9% for air and 89.1% for vessel.
U.S.-Canada trade totaled $52.8 billion in November, down 6.9% from October but up 0.9% from the previous year. The value of freight carried increased year-on-year for truck (0.6%, despite a 0.7% drop in imports), rail (where a 9.2% gain in exports offset a 1.0% slide in imports) and pipeline (6.6%, despite a 29.3% decline in exports) but fell for vessel (5.6%, the combination of a 77.2% spike in exports and a 34.0% drop in imports) and air (5.4%).
U.S.-Mexico trade fell to $43.3 billion in November, down 6.7% from October but up 1.8% from a year earlier. Compared to November 2012 the value of freight increased for truck (4.5%, including an 8.4% rise in exports), rail (2.4%, despite a 7.6% drop in exports) and pipeline (25.8%, including a 27.5% jump in exports) but fell for vessel (9.7%, including a 13.3% fall in imports) and rail (1.3%, where a 15.1% rise in exports could not overcome a 16.0% decline in imports).