(Evan Lockridge – HDT Truckinginfo)
The value of freight moved between the U.S. and its North American Free Trade Agreement partners posted its 12th consecutive year-over-year increase in October, according to newly released Transportation Department figures.
The 7.9% increase from October 2016 put the value at $100.6 billion as all five major transportation modes carried more freight by value with NAFTA partners Canada and Mexico. The hike is the biggest since May and compares to a 3.6% drop in October 2016 versus the same month in 2015.
The value of commodities moving by vessel increased 32.6%, pipeline by 9.3%, air by 6.1%, truck by 5.7%, and rail by 3.3%. The large percentage increase in the value of goods moving by vessel was due in part to an increase in the unit value and an 18% increase in the tonnage of mineral fuels traded, according to the department. Click here to read more.