(The following story by Thomas L. Gallagher appeared on The Journal of Commerce website on October 29, 2009.)
WASHINGTON, D.C. — Surface trade with Canada and Mexico in August fell 24.9 percent from August 2008 to $54.3 billion, according to the Bureau of Transportation Statistics of the U.S. Department of Transportation.
August was the third consecutive month in which the rate of decline slowed from the 35.4 percent drop in May, the worst month so far in the recession.
Trade between the United States and its North American Free Trade Agreement partners using truck, rail or pipeline has been in decline since October 2008, when the global recession began to pinch with a 2.1 percent slip. The fall quickly went into double digit retreat and all this year was more than 27 percent each month until August.
The value of U.S. surface transportation trade with Canada and Mexico rose 5.3 percent in August from the previous month.
The value of NAFTA surface trade in August was lower than in August of any year since 2004.
U.S.–Canada surface transportation trade totaled $32.9 billion in August, down 29.6 percent compared to August 2008. The value of imports carried by truck was 26.1 percent lower in August 2009 compared to August 2008, while the value of exports carried by truck was 17 percent lower during this period.
U.S.–Mexico surface transportation trade totaled $21.3 billion in August, down 16.2 percent compared to August 2008. The value of imports carried by truck was 13.5 percent lower in August 2009 than August 2008 while the value of exports carried by truck was 14.7 percent lower.