Large declines in the value of oil and other petroleum-related products during 2015 was reflected in a lower value of cross-border freight movements between the U.S. and its neighbors, according to new Transportation Department figures.
Evan Lockridge・Former Business Contributing Editor
February 26, 2016
Percent change in value of U.S.-NAFTA freight flows by mode: December 2014 - 2015. Graphic: U.S. DOT
2 min to read
Percent change in value of U.S.-NAFTA freight flows by mode: December 2014 - 2015. Graphic: U.S. DOT
Large declines in the value of oil and other petroleum-related products during 2015 was reflected in a lower value of cross-border freight movements between the U.S. and its neighbors, according to new Transportation Department figures. The data shows the value of freight flows fell 7.2% in 2015 compared to a year earlier.
Ad Loading...
That follows a 4.5% improvement in 2014 from 2013.
Ad Loading...
This happened as the value of freight moved between the U.S. with Canada and Mexico via truck, rail, air, vessel and pipeline fell 9.5% in December from a year earlier, the third largest year-over-year drop of 2015.
In December, compared to a year earlier, the value of commodities moving by truck decreased by 3.1% while the value of air freight decreased by 3.5% and rail by 9.3%. Vessel freight and pipeline freight fell by 29.9% and 47.4%, respectively.
Trucks carried 63.4% of so-called U.S.-NAFTA (North American Free Trade Agreement) freight and continued to be the most heavily used mode for moving goods to and from both U.S.-NAFTA partners. Trucks accounted for $28 billion of the $46.8 billion of imports, or 60%, and $26.9 billion of the $40 billion of exports, or 67.3%.
The value of U.S.-Canada freight totaled $45 billion in December 2015, down 15.2% from a year earlier.
Trucks moved 57.3% of the $45 billion of freight to and from Canada, followed by rail at 15.9%. The top commodity category transported between the U.S. and Canada by all modes was vehicles and parts, of which $4.9 billion, or 56.7%, moved by truck
Ad Loading...
U.S.-Mexico freight flows totaled $41.7 billion in December 2015, down 2.4% from December 2014, as air and trucks carried more U.S.-Mexico freight value than in December 2014. Freight carried by truck increased by 1.3%, led by shipments of electrical machinery, which were up 7.4%.
Trucks moved 70% of the $41.7 billion of the value of freight transported to and from Mexico, followed by rail at 14.3%.
ACT Research data shows volumes hitting a four-year high and supply-demand balance strengthening, but higher oil prices are undercutting tariff relief and tempering optimism.
The patent-pending cargo solution integrates a digitally connected cargo door and an intelligent locking system with the TrailerHawk.AI technology platform.
Speaking at the TMC Annual Meeting in Nashville, ATA President Chris Spear said trucking faces mounting pressure from rising fuel prices, geopolitical instability, and uncertainty around trade policy.
More than 100,000 new trucking companies enter the industry each year, but regulators manage to audit only a fraction of them. That churn creates opportunities for inexperienced startups — and for “chameleon carriers” that shut down after safety violations and reappear under new identities. Read more from Deborah Lockridge in this commentary.
HDTX is an intimate event that connects heavy-duty trucking fleet managers with industry suppliers through small-group discussions, educational sessions, and structured one-on-one meetings.
Optimal Dynamics says its new Scale platform uses AI agents and optimization to help carriers find and secure freight that improves network balance and profitability.
NACFE's Run on Less - Messy Middle project demonstrates the power of data in helping to guide the future of alternative fuels and powertrains for heavy-duty trucks.