Thursday, July 29, 2010

May NAFTA Trade Posts Record Gain from Previous Year

(The Trucker – Kevin Jones)

Trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 39.5% higher in May 2010 than in May 2009, reaching $66.8 billion, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation. The 39.5% increase was the largest percentage year-over-year increase in total U.S.-NAFTA surface trade on record, going back to April 1994. May was the third month in the last four with a record percentage year-over-year increase.

However, the value of U.S. surface transportation trade with Canada and Mexico in May 2010 remained 9.9% below the May 2008 level despite the 2009-2010 increase, BTS, a part of the Research and Innovative Technology Administration, reported.

North American surface freight value rose 1.5% in May 2010 from April 2010. Month-to-month changes can be affected by seasonal variations and other factors, BTS noted. Read more here.