With March numbers coming in, surface trade between the United States, Canada, and Mexico was 37% higher this last month than it was during the same time last year. According to the Department of Transportation, this is the highest increase in trade recorded. Surface trade, which is characterized by the use of trucks, trains, and pipelines, accounts for almost 90% of trade between North American Free Trade Agreement partners.
This March increase marks the fourth straight reported gain in trade. Imports to the US went up 29.2% from last March, and exports tauted a 30.9% increase. The total worth of trade was estimated at $69.9 billion.
Although the Department of Transportation's Bureau of Trade Statistics said that seasonal changes easily affect trade numbers, they also noted a 17.9% increase between March and February of this year.
If you or someone you know needs help with their trucking business, contact TBS Truck Factoring, LLC., by calling 800-207-7661.