Post by HardTimeTrucker on Mar 7, 2009 7:33:24 GMT -5
Second consecutive month of large declines, says BTS
Trade between the United States and its North American Free Trade Agreement partners, Canada and Mexico, is declining rapidly as the recession deepens.
Surface trade among the NAFTA partners was 13.1 percent lower in December 2008 than in December 2007. The value of goods transferred by rail, road and pipeline in December dropped to $52.9 billion, according to the Department of Transportation’s Bureau of Transportation Statistics. December was the second straight month with a year-to-year decline of greater than 13 percent.
The decline is in stark contrast with the 42.3 percent growth in NAFTA surface trade over the last 10 years.
Surface trade between the United States and Canada was hit hardest, falling to $32.9 billion, down 17 percent compared with a year earlier. The value of imports carried by truck was 15.4 percent lower, while the value of exports carried by truck was 13.7 percent lower.
U.S.-Mexico surface transportation trade totaled $20 billion in December, down 6 percent compared to December 2007. The value of imports carried by truck was 11.8 percent lower, while the value of exports carried by truck was 9.7 percent higher.
Trade between the United States and its North American Free Trade Agreement partners, Canada and Mexico, is declining rapidly as the recession deepens.
Surface trade among the NAFTA partners was 13.1 percent lower in December 2008 than in December 2007. The value of goods transferred by rail, road and pipeline in December dropped to $52.9 billion, according to the Department of Transportation’s Bureau of Transportation Statistics. December was the second straight month with a year-to-year decline of greater than 13 percent.
The decline is in stark contrast with the 42.3 percent growth in NAFTA surface trade over the last 10 years.
Surface trade between the United States and Canada was hit hardest, falling to $32.9 billion, down 17 percent compared with a year earlier. The value of imports carried by truck was 15.4 percent lower, while the value of exports carried by truck was 13.7 percent lower.
U.S.-Mexico surface transportation trade totaled $20 billion in December, down 6 percent compared to December 2007. The value of imports carried by truck was 11.8 percent lower, while the value of exports carried by truck was 9.7 percent higher.