May trade between U.S. and NAFTA partners down 3.1 percent

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that that U.S. trade with its North America Free Trade Agreement (NAFTA) partners Canada and Mexico fell 3.1 percent annually to $89.8 billion in May, following a 3.3 percent drop to $90.4 billion in April. This marks the 17th straight month of declines for the total value of U.S.-NAFTA freight.

Trucking commodities were the group to see an increase for the month with a 1.3 percent increase as the value of incoming freight from Mexico was up 6.2 percent and Canada was up 11.4 percent, which topped the 5.5 percent decrease between the U.S. and other NAFTA countries by truck.

For all other modes, the value of freight dropped, with rail down 3.1 percent, air down 3.8 percent, and pipeline down 21.4 percent. BTS said this was due in part to a drop in crude oil prices that played a large role in the declines of the dollar value of products shipped by vessel and pipeline.

Trucks moved 66.0 percent of U.S.-NAFTA freight and represented $31.2 billion of the $47.9 billion of total imports, or 65.3 percrent and $28.0 billion of the $42.0 billion of exports or 66.9 percent.

From May 2015 to May 2016, the value of U.S.-Canada freight flows fell 6.0 percent to $46.0 billion as all modes of transportation except truck carried a lower value of U.S.-Canada freight than a year earlier. And for the same period the value of U.S.-Mexico freight rose 0.1 percent to $43.9 billion as all modes of transportation except truck and rail carried a lower value of U.S.-Mexico freight than a year earlier.