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Friday, April 19, 2024

Huge Increase In Cross Border Freight in March

Huge Increase In Cross Border Freight in March

U.S.-NAFTA freight totalled $100.3 billion as all five major transportation modes carried more freight by value with North American Free Trade Agreement partners Canada and Mexico in March 2017 compared to March 2016, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics. March was the first time since October 2014 that U.S.-NAFTA freight has exceeded $100 billion.

The 10.9 percent rise from March 2016 is the fifth consecutive month in which the year-over-year value of U.S.-NAFTA freight increased from the same month of the previous year. It is also the first double-digit year-over-year percent increase in 33 months.

Trucks carried 63.7 percent of U.S.-NAFTA freight and continued to be the most heavily utilized mode for moving goods to and from both U.S.-NAFTA partners. Trucks accounted for $32.6 billion of the $54.3 billion of imports and $31.3 billion of the $45.9 billion of exports.

Rail remained the second largest mode by value, moving 15.8 percent of the freight. The surface transportation modes of truck, rail and pipeline carried 85.4 percent of the total value of U.S.-NAFTA freight.

Trucks carried 58.5 percent of the value of the freight to and from Canada and 69.2 percent of the value of freight to and from Mexico.

The top commodity category transported between the U.S. and both Canada and Mexico was vehicles and parts.