Month-to-month trade among North American Free Trade Agreement partners fell 3.7 percent from April to May, but the year-over-year monthly decline was the fifth consecutive plunge of at least 27 percent. From May 2008 to May 2009, surface transportation among the United States Canada and Mexico dropped 35.4 percent, making it the largest drop on record. The Department of Transportation’s report indicated that all imports and exports by truck, rail and pipeline tumbled from April to May. About 90 percent of U.S. trade among NAFTA partners moves by truck.

Surface transportation trade among the United States, Canada and Mexico fell 35.4% in May from a year earlier, the largest year-to-year drop on record, the Department of Transportation said Thursday.

The downturn was the fifth consecutive year-over-year monthly decline of at least 27% between the North American Free Trade Agreement partners.

Month-to-month, trade fell 3.7% in May from April, DOT’s Bureau of Trade Statistics said in its monthly report.

Truck imports to the United States dropped 29.7% to $17.2 billion, while exports fell 29.4% to $17.4 billion.

Rail imports plunged 46.1% to $4.4 billion, while exports fell 38% to $2.8 billion, DOT said. Pipeline imports fell 59.2% to $2.9 billion, while exports declined 52.1%, to $304 million.

U.S.-Canada trade fell 40.3% to $29.2 billion. The value of truck imports fell 35.7% and the value of truck exports fell 33.4%.

U.S.-Mexico trade fell 26% to $18.6 billion. The value of truck imports fell 23.4% and the value of truck exports fell 21.1%.

Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.

[source - ttnews.com]