Knight Investments LLC review North American Free Trade Agreement (NAFTA) Partners Trade Statistics
Officials from Knight Investments LLC took notice of trade between NAFTA Partners and commented on how legislation pushes would effect compliance solutions.
- (1888PressRelease) December 15, 2010 - Official reports were released earlier this year by government agencies that specified trade using surface transportation between the United States and its North American Free Trade Agreement (NAFTA) partners (Canada and Mexico) was 25.3 percent higher in August 2010 than in August 2009, reaching $68.0 billion. This statistic was published according to the Bureau of Transportation Statistics (BTS) of the U.S. Department of Transportation.
Officials from Knight noted that the value of U.S. surface transportation trade with Canada and Mexico in August 2010 remained 5.9 percent below the August 2008 level despite the 2009-2010 increase.
BTS, a part of the Research and Innovative Technology Administration, reported that the value of U.S. surface transportation trade with Canada and Mexico rose 10.9 percent in August 2010 from July 2010. Month-to-month changes can be affected by seasonal variations and other factors.
Surface transportation consists largely of freight movements by truck, rail and pipeline. In August, 86.3 percent of U.S. trade by value with Canada and Mexico moved on land.
The value of U.S. surface transportation trade with Canada and Mexico in August was up 12.9 percent compared to August 2005, and up 35.1 percent compared to August 2000, a period of 10 years reported the BTS. Imports in August were up 29.3 percent compared to August 2000, while exports were up 42.5 percent.
Officials from Knight stated that these elements were key demonstrations that legislation pushes showed a need for private sector contributions to play support roles in these activities.
The following statistics released by the BTS resulted in KI Officials stating this information would help project principals identify areas of importance.
U.S. Surface Transportation Trade with Canada
U.S.-Canada surface transportation trade totaled $39.9 billion in August, up 21.1 percent compared to August 2009. The value of imports carried by truck was 23.2 percent higher in August 2010 compared to August 2009, while the value of exports carried by truck was 19.8 percent higher during this period.
Michigan led all states in surface trade with Canada in August with $5.4 billion.
U.S. Surface Transportation Trade with Mexico
U.S.-Mexico surface transportation trade totaled $28.1 billion in August, up 31.7 percent compared to August 2009. The value of imports carried by truck was 29.1 percent higher in August 2010 than August 2009 while the value of exports carried by truck was 30.6 percent higher.
Texas led all states in surface trade with Mexico in August with $10.2 billion. This is the first time in the 15-year history of the TransBorder Freight Data that a state has exceeded $10 billion of surface trade with Mexico.
The TransBorder Freight Data are a unique subset of official U.S. foreign trade statistics released by the U.S. Census Bureau. New data are tabulated monthly and historical data are not adjusted for inflation. August TransBorder numbers include data received by BTS as of Oct. 14.
(Factual information source US Census Bureau & BTS)
Knight Investments LLC works as a private compliance firm to invest company assets on the behalf of promoting a vibrant community, low income housing, humanitarian causes, renewable energies, real estate developments, and project compliance solutions.
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