US-Mexico-Canada trade development
In 2024, transborder freight between the USA, Canada and Mexico reached USD 1.6 trillion, up by 1.8% compared to 2023, according to the USA's 'Bureau of Transportation Statistics'.
Trade with Mexico increased by 5.1% to USD 840 billion, while trade with Canada declined by 1.6% to USD 761 billion.
Surface transportation modes remained dominant, with trucks accounting for 64% and rail for 12% of total flows. Pipeline and vessel freight declined by 5.3% and 4.9%, respectively, largely due to lower mineral fuel dollar values.
Truck freight with Mexico has grown at a faster pace than with Canada since 2020. By December 2024, monthly truck freight with Mexico was worth USD 45 billion (+54%), compared to USD 32 billion with Canada (+45%). (js)