NAFTA trade totals $98.2 billion in May, U.S. deficit with Mexico $6.8 billionStaff Writer | July 31, 2017
The total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement (NAFTA), which include Canada and Mexico, stood at $98.2 billion in May.
Trade A 9.4 percent increase from the same 2016 period
All five of the major transportation modes measured by the BTS – pipeline, vessel, air, rail and truck – moved more freight by value in May than a year prior, with pipeline up 60.3 percent, vessel up 28.4 percent, air up 8.7 percent, rail up 7 percent and truck up 5 percent.
“In May, the increase in the value of freight by pipeline and vessel more closely reflected a greater volume of mineral fuels moved rather than an increase in the price of those commodities,” BTS said.
Trucks continued to be the most common method of transportation for moving goods to and from both Canada and Mexico in May.
During the month, trucks accounted for $32.2 billion of the $53.5 billion of imports (60.2 percent) from Canada and Mexico, and $30.1 billion of the $44.7 billion of exports (67.3 percent) from the two countries.
Rail was the second largest mode by value, moving 15.5 percent of U.S.-NAFTA freight, followed by vessel at 6.4 percent, pipeline at 5.7 percent, and air at 3.7 percent.
The U.S. trade deficit with Mexico stood at $6.8 billion in May, while the deficit with Canada totaled $2.2 billion, according to data from the U.S. Commerce Department. ■