U.S. Cross-Border Freight Value Inches Higher, Trucking’s Share Falls
U.S.-NAFTA freight value percent change from previous year over the last 24 months. Graphic: U.S. DOT
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U.S.-NAFTA freight value percent change from previous year over the last 24 months. Graphic: U.S. DOT
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The value of freight moved between the U.S. and its border neighbors increased in December for the third time in five months following a string of declines, according to new figures released Thursday by the Transportation Department.
U.S.-North American Free Trade Agreement (NAFTA) freight totaled $87.1 billion as three out of five major transportation modes carried more freight by value with partners Canada and Mexico in December 2016 compared to a year earlier.
The 0.4% rise followed a 3.3% November jump while trucking’s share of the overall cross-border freight picture fell in December.
For all of 2016 the value of NAFTA freight flows fell 3.4% from 2015, down substantially from the 7.2% decline in 2015 from 2014.
The value of commodities moving by pipeline in December compared to a year earlier increased 30.9%, vessel by 2%, and rail by 0.9%. Air decreased by 1.4%, and truck by 2%. The large percentage increase in the value of goods moving by pipeline was mainly due to a 40% jump in the year-over-year price of crude oil.
Trucks carried 61.9% of U.S.-NAFTA freight and continued to be the most heavily utilized mode for moving goods to and from both U.S.-NAFTA partners. Trucks accounted for $27.4 billion of the $46.8 billion of imports, or 58.6%, and $26.4 billion of the $40.3 billion of exports, or 65.6%.
Rail remained the second largest mode by value, moving 15.2% of all U.S.-NAFTA freight.
U.S.-Canada Freight Value Drops
The value of U.S.-Canada freight flows in December decreased from a year ago by 1.2% to $44.5 billion as the value of freight on three modes fell. The value of freight carried on truck declined by 2.1%, rail by 5.4%, and vessel by 20.8%. The value of commodities moved by pipeline increased …Read the rest of this story
