NAFTA Trade Plunge Accelerated in April

The surface transportation trade between the United States and its North American Free Trade Agreement partners Canada and Mexico declined 33.1 percent in April compared to April 2008, according to the Bureau of Transportation Statistics of the U.S. Department of Transportation.

April was the fourth consecutive month of year-over-year decline of more than 27 percent. The decline was the steepest in the seven months of declining business. April surface trade totaled $49.7 billion, down 2.6 percent from March. In April 2008, surface trade with Canada and Mexico was at a high of $74.3 billion. About 88 percent of U.S. trade by value with Canada and Mexico moves by truck, rail and pipeline.

U.S.-Canada surface transportation trade totaled $30.2 billion in April, down 38.2 percent compared to April 2008. The value of imports carried by truck was 32.8 percent lower in April 2009 compared to April 2008, while the value of exports carried by truck was 31.2 percent lower during this period, BTS said.

U.S.-Mexico surface transportation trade totaled $19.5 billion in April, down 23.4 percent compared to April 2008. The value of imports carried by truck was 22 percent lower in April 2009 than April 2008, while the value of exports carried by truck was 18 percent lower.

Contact Thomas L. Gallagher at tgallagher@joc.com.