Trade with Canada and Mexico is Down

[Luke_Wilbur]

Surface transportation trade between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico was 27.2 percent lower in January 2009 than in January 2008, dropping to $47.5 billion, the biggest year-to-year percentage decline on record, according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation (Table 1). The $47.5 billion in U.S.-NAFTA trade in January 2009 was the lowest monthly amount since January 2004.

 

U.S.–Canada surface transportation trade totaled $29.0 billion in January, down 31.1 percent compared to January 2008. The value of imports carried by truck was 31.3 percent lower in January 2009 compared to January 2008, while the value of exports carried by truck was 27.2 percent lower.

 

U.S.–Mexico surface transportation trade totaled $18.5 billion in January, down 20.0 percent compared to January 2008. The value of imports carried by truck was 20.5 percent lower in January 2009 than January 2008 while the value of exports carried by truck was 10.7 percent lower.