Value of U.S.-NAFTA Freight Rises for 7th Straight Month
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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A rise in the value of cross-border trucking freight between the U.S. and the other two North American Free Trade Agreement partner counties helped push total value of commodities higher for the seventh straight month in May, according to a new Transportation Department report.
U.S.-NAFTA freight totaled $98.2 billion for the month as all five major transportation modes carried more freight by value compared to a year ago, resulting in a 9.4% increase.
The value of commodities moving by pipeline increased 60.3%, vessel by 28.4%, air by 8.7%, rail by 7%, and truck by 5%.
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, according to the department. In contrast with recent months, there was only a modest year-over-year increase during May in the price of mineral fuels, totaling 3.8%.
Trucks carried 63.4% 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 $32.2 billion of the $53.5 billion of imports, or 60.2%. and $30.1 billion of the $44.7 billion of exports, or 67.3%. Rail remained the second largest mode by value, moving 15.5% of all U.S.-NAFTA freight.
U.S.-Canada Freight Flows Increase By Double Digits
From May 2016 to May 2017, the value of U.S.-Canada freight flows increased by 11.4% to $51.2 billion as the value of freight on all five major modes increased from a year earlier.
The value of freight carried on pipeline increased by 66%, vessel by 26%, rail by 9.8%, air by 9.7%, and truck by 5.4%.
Trucks carried 57.8% of the value of the freight to and from Canada. Rail carried …Read the rest of this story
