TORONTO: Trade between the U.S. and North American Free Trade Agreement (NAFTA) partners Canada and Mexico totaled more than $95.8 billion in December, the eleventh consecutive month that freight values have exceeded those of the same month in 2013.
Compared to December 2013, the value of freight transported in December 2014 between the partners by truck grew by 9.3 percent, the largest increase of any mode of transport.
Rail, air and pipeline freight also increased during the month. The increase in pipeline dollar values was noteworthy, because petroleum prices plummeted during the month. An increase in the volume of petroleum shipped, however, brought the totals above last December’s value.
Trucks carried 59.2 percent of U.S.-NAFTA freight and were the most heavily utilized mode for moving goods to and from both U.S.-NAFTA partners. Trucks accounted for $28.4 billion or 54.0 percent of the $52.5 billion of imports and $28.4 billion or 65.6 percent of the $43.3 billion of exports.
Trucks carried 52.6 percent of the $53.1 billion of freight exchanged between the U.S. and Canada, valued at $27.9 billion. The trucking total included $15.8 billion in exports (56.6 percent) and $12.1 billion in imports (43.4 percent).
Mineral fuels, oils and waxes valued at $11.8 billion, mostly petroleum, was the number one commodity traded between the NAFTA partners in December. More than $5.1 billion in vehicles traveled between the U.S. and Canada by truck, the top product hauled by that mode.
Trucks carried 67.5 percent of the $42.7 billion in December trade with Mexico, valued at nearly $28.9 billion. Of that amount, $16.3 billion or 56.4 percent was attributable to imports, while exports accounted for $12.5 billion or $43.2 percent of the total.
The top commodity traded between the partners was electrical machinery and parts valued at $7.7 billion. Trucks transported 90.8 percent of that total, valued at nearly $7.0 billion, making the commodity the top one hauled by that mode.
