NAFTA trade rebounds in November

Total cross-border trade between the United States, Mexico and Canada grew 3.3 percent after falling in 21 of the previous 22 months compared with the prior-year period, according to the Department of Transportation’s Bureau of Transportation Statistics.    The total value of cross-border trade between the United States and its partners in the North American Free Trade Agreement (NAFTA), which include Canada and Mexico, in November 2016 rebounded 3.3 percent to $91.1 billion, according to the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).
   BTS noted total NAFTA freight values have now fallen in 21 of the last 23 months when compared with the prior-year period.
   All five of the major transportation modes measured by BTS moved more freight by value in November, with pipeline trade jumping 30.6 percent, ocean vessel up 12.5 percent, air 6.2 percent, rail 5.1 percent, and truck 0.6 percent.
   Trucks continued to be the most heavily utilized mode for moving goods to and from both Canada and Mexico, accounting for 61.6 percent ($30.7 billion) of the $49.8 billion in U.S. imports from Canada and Mexico during the month and 67.8 percent ($28 billion) of the $41.3 billion in exports, BTS said.
   Rail remained the second largest mode by value, moving 15.3 percent of all U.S.-NAFTA freight, followed by vessel (5.9 percent), pipeline (5.3 percent) and air (3.9 percent).
   Year-over-year, the value of U.S.-Canada freight flows grew 2.2 percent to $46.1 billion in November, while U.S.-Mexico trade values increased 4.5 percent to $45 billion.