Value of shipments rises 6.7% between U.S. and NAFTA partners

The value of freight transported between the United States and North American Free Trade Agreement partners, Canada and Mexico, rose 6.7% to $88 billion in January, compared to the same month in 2016, according to the Bureau of Transportation Statistics. It was the largest annual increase since September 2014 and the third consecutive month the value has risen. The value includes all five major transportation modes: pipeline, vessel, air, rail and truck.

“The value of commodities moving by pipeline increased 42.7%, vessel by 41.8%, air by 13.7%, rail by 5.5% and truck by 0.4%, according to the BTS. “The large percentage increase in the value of goods moving by pipeline and vessel was largely due to a 66% increase in the year-over-year price of crude oil between January 2016 and January 2017.”

Trucks hauled 62.5% of U.S.-NAFTA freight and accounted for 59%, or $28.2 billion, of the $47.8 billion of imports and 66%, or $26.8 billion, of the $40.2 billion of exports. Rail moved the second largest amount of freight by value, accounting for 15% of all U.S.-NAFTA freight. Vessel moved 7%; pipeline, 6.4%; and air, 3.9%.

The value of freight hauled between the United States and Canada rose 7.1% to $45 billion. The value of freight carried by pipeline rose 44%; air, 17%; vessel, 13%; rail, 8.5%; and truck, 0.5%. The rise in the amount moved by pipeline is a result of the increased value of mineral fuels annually, according to BTS. The value of freight hauled between the United States and Mexico increased 6.3% to $43 billion in January. The value of freight moved by vessel rose 58.9%; pipeline, 26.4%; air, 8.6%; rail, 2.1%; and truck 0.3%. The increase in the amount transported by vessel is because the value of mineral fuels has risen annually.