Trade using surface transportation between the United States and its North American Free Trade Agreement partners was up 11.8 percent in February.
According to the Bureau of Transportation Statistics of the U.S. Department of Transportation, trade between the U.S. and its NAFTA partners, Canada and Mexico, was 11. 8 percent higher in February than in February 2010, reaching $66.5 million. The value of U.S. surface transportation trade with Canada and Mexico in February increased 38.8 percent in two years from February 2009.
Surface transportation trade in February 2009 had the lowest amount of trade of any month since February 2004, with $47.9 billion, according to the Research and Innovation Technology Administration.
Trade value in February was down 4.1 percent from the early recession level of February 2008. Freight value in February fell 1.8 percent from January. In February 86.4 percent of U.S. trade with Canada and Mexico moved on land, 9.3 percent moved by vessel, and 4.3 percent moved by air.
For more information on freight factoring, please contact TBS factoring LLC by calling 800-207-7661.