In The News
April was record month for NAFTA trade
Surface trade between the United States and its North American Free Trade Agreement partners Canada and Mexico was 14.3 percent higher in April 2008 than in April 2007, reaching $74.3 billion, the highest monthly level ever recorded, according to the U.S. Department of Transportation.
The previous high of $74.2 billion was set in October 2007.
The value of U.S. surface trade with Canada and Mexico rose 5 percent in April from March and was up 58.7 percent compared to April 2003 and 91.8 percent compared to April 1998. The value of imports in April was up 106 percent compared to April 1998, while the value of exports was up 75.8 percent.
Surface trade consists largely of freight movements by truck, rail and pipeline. About 88 percent of U.S. trade by value with Canada and Mexico moves on land.
U.S.-Canada surface trade totaled $48.9 billion in April, up 15.4 percent compared to April 2007. The value of imports carried by truck was about 1 percent higher in April 2008 than in April 2007, while the value of exports carried by truck was 13.1 percent higher.
U.S.-Mexico surface trade totaled $25.5 billion in April, up 12.2 percent compared to April 2007. The value of imports carried by truck was 11.8 percent higher in April 2008 than in April 2007, while the value of exports carried by truck was 10.9 percent higher.