Trade Resources Economy United States and NAFTA Partners Canada and Mexico Increased by 6.2%in 2012

United States and NAFTA Partners Canada and Mexico Increased by 6.2%in 2012

Tags: Trade, US, NAFTA

Trade using surface transportation modes between the United States and its North American Free Trade Agreement (NAFTA) partners Canada and Mexico increased by 6.2 percent in 2012 compared to 2011, valued at $960 billion in 2012, according to the Bureau of Transportation Statistics (BTS) of the US Department of Transportation. In 2012, 86.5 percent of US merchandise trade by value with Canada and Mexico entered or exited the country by surface mode of transportation.

US-Canada surface transportation trade totaled $556.2 billion in 2012, an increase of 3.6 percent compared to 2011. The value of goods transported by rail had the largest year-to-year increase. Imports carried by rail were 7.4 percent higher in 2012 than 2011 while the value of exports carried by rail was 11.8 percent higher. The value of pipeline imports and exports decreased, dropping 4.3 and 2.3 percent respectively in 2012 compared to 2011.

The top commodity category overall transported between the US and Canada by surface modes of transportation in 2012 was vehicles and vehicle parts (other than railway vehicles and parts) with $107.4 billion in trade. US-Canada trade of this commodity group was split roughly even between exports and imports, reflecting the interdependency of automotive plants on both sides of the border, according to the BTS.

US-Mexico surface transportation trade totaled $403.9 billion in 2012, an increase of 10 percent compared to 2011. Similar to the trend on the northern border, the value of goods transported by rail had the highest year to your increase. Imports carried by rail were 14.3 percent higher in 2012 than 2011, while the value of exports carried by rail was 11.1 percent higher.

Source: http://www.steelorbis.com/steel-news/latest-news/us_nafta-trade-grows-62-percent-in-2012-748325.htm
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US-NAFTA Trade Grows 6.2 Percent in 2012
Topics: Metallurgy