BTS reports May declines for U.S.-NAFTA freight

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement partners Canada and Mexico in May dropped 10.8 percent annually to $92.7 billion, following a 6.8 percent annual decline to $93.3 billion in April.

BTS said that large declines in the value of NAFTA trade by pipeline and vessel in May were mainly due to the reduced unit price of mineral fuel shipments, as has been the case in recent months, coupled with a recession in Canada likely contributing to the nearly 11 percent annual decline.

Rail commodities in May fell 7.4 percent annually, with truck and air down 5.9 percent and 2.4 percent, respectively. BTS added that vessel freight values fell 22.4 percent and pipeline freight was off 45.4 percent, due mainly to the lower unit price of mineral fuel shipments.

The value of U.S.-Canada freight totaled $48.9 billion in May 2015, down 15.2 percent from May 2014, as all modes of transportation carried a lower value of U.S.-Canada freight than a year earlier. And the value of U.S.-Mexico freight totaled $43.8 billion in May 2015, down 5.3 percent from May 2014, as two out of five transportation modes – air and rail – carried more U.S.-Mexico freight than in May 2014.