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NAFTA trade falls 3.6pc in October to US$93 billion
CROSSBORDER trade between the United States, Mexico and Canada--partners in the North American Free Trade Agreement (NAFTA)--contracted in 21 of the last 22 months compared with the prior-year period to total US$93.2 billion in October, down 3.6 per cent, according to the US Department of Transportation.
The value of US-Canada freight volume dropped by 2.5 per cent to $46.5 billion in October, while US-Mexico trade values fell 4.7 per cent to $46.6 billion.
The value of cargo moving by all transportation modes declined-- except for pipeline and rail carriers hauling more freight by value in October, surging 21.8 per cent and 6.2 per cent, respectively. Air freight decreased 12.7 per cent, trucking was down 6.1 per cent, and ocean freight down seven per cent year on year, reported American Shipper.
Trucks continued to be the most heavily utilised mode for moving goods to and from both Canada and Mexico, accounting for 63.4 per cent ($31.9 billion) of the $50.3 billion in US imports from Canada and Mexico during October and 67.6 per cent ($29 billion) of the $42.9 billion in exports, official data shows.
Rail transported 15.8 per cent of all US-NAFTA freight, followed by sea freight (5.4 per cent) and air (3.8 per cent).
The value of US-Canada freight volume dropped by 2.5 per cent to $46.5 billion in October, while US-Mexico trade values fell 4.7 per cent to $46.6 billion.
The value of cargo moving by all transportation modes declined-- except for pipeline and rail carriers hauling more freight by value in October, surging 21.8 per cent and 6.2 per cent, respectively. Air freight decreased 12.7 per cent, trucking was down 6.1 per cent, and ocean freight down seven per cent year on year, reported American Shipper.
Trucks continued to be the most heavily utilised mode for moving goods to and from both Canada and Mexico, accounting for 63.4 per cent ($31.9 billion) of the $50.3 billion in US imports from Canada and Mexico during October and 67.6 per cent ($29 billion) of the $42.9 billion in exports, official data shows.
Rail transported 15.8 per cent of all US-NAFTA freight, followed by sea freight (5.4 per cent) and air (3.8 per cent).
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