U.S.-Mexico freight exceeds U.S.-Canada freight for first month ever in October
WASHINGTON, D.C.–The value of U.S.-NAFTA freight totaled $96.6 billion in October 2015 as all modes of transportation carried a lower total value of freight than a year earlier, according to the TransBorder Freight Data released today by the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).
October was the first month on record in which the total value of U.S.-Mexico freight flows exceeded U.S.-Canada freight flows. Although the total freight value to and from both Canada and Mexico fell from October 2014, the decline in freight value with Canada (18.5 percent) was much larger than the decline with Mexico (1.5 percent) primarily due to the reduced unit price of crude oil, said the report.
U.S.-Canada Freight
The value of U.S.-Canada freight totaled $47.7 billion in October 2015, down 18.5 percent from October 2014, as all modes of transportation carried a lower value of U.S.-Canada freight than a year earlier. The year-over-year decline in U.S.-Canada freight flows is the largest since the 19.4 percent decline between October 2008 and October 2009.
Lower crude oil prices contributed to a year-over-year decrease in the value of freight moved between the U.S. and Canada. Crude oil a large share of freight carried by vessel and pipeline, which were down 31.7 percent and 53.2 percent respectively year-over-year.
Year-over-year, the value of U.S.-NAFTA freight flows by all modes declined by 10.7 percent.
Trucks carried 67.1 percent of U.S.-NAFTA freight and continue to be the most heavily utilized mode for moving goods to and from both U.S.-NAFTA partners. Trucks accounted for $33.6 billion of the $51.4 billion of imports (65.4 percent) and $31.2 billion of the $45.3 billion of exports (69.0 percent).
Rail remained the second largest mode by value, moving 14.3 percent of all U.S.-NAFTA freight, followed by vessel, 5.6 percent; air, 4.2 percent; and pipeline, 3.9 percent. The surface transportation modes of truck, rail and pipeline carried 85.3 percent of the total U.S.-NAFTA freight flows.
Trucks carried 61.2 percent of the $47.7 billion of freight to and from Canada, followed by rail, 15.4 percent; pipeline, 7.3 percent; air, 4.9 percent; and vessel, 4.1 percent. The surface transportation modes of truck, rail and pipeline carried 83.9 percent of the total U.S.-Canada freight flows.
U.S.-Mexico Freight
The value of U.S.-Mexico freight totaled $48.9 billion in October 2015, down 1.5 percent from October 2014, as two out of the five transportation modes – air and truck – carried more U.S.-Mexico freight than in October 2014. The value of U.S.-Mexico air freight rose 14.8 percent from October 2014 to October 2015, the largest percentage increase of any mode. Freight carried by truck increased by 4.7 percent while rail freight was down 5.7 percent and pipeline freight declined 30.5 percent. Vessel freight decreased by 36.7 percent mainly due to lower crude oil prices.
Trucks carried 72.8 percent of the $48.9 billion of the value of freight transported to and from Mexico, followed by rail, 13.3 percent; vessel, 7.0 percent; air, 3.6 percent; and pipeline, 0.6 percent. The surface transportation modes of truck, rail and pipeline carried 86.7 percent of the total U.S.-Mexico freight flows.
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