February 2021 Sees Small Hit In Cross-Border Freight
Industries across the world got hit hard by the coronavirus pandemic, but late 2020 saw some recovery across the board, slow as it might be. For logistic firms like Titans Transline, the pandemic has been a mixed bag, with greater challenges but greater demand due to the boost in e-commerce.
While logistics have been making some recovery, February 2021 saw a bit of a drop compared to January 2021, and February 2020. During that month, cross-border freight dropped by 0.1% following a 3% decrease in January, and a 0.4% increase in December, according to data from the Bureau of Transportation Statistics.
December 2020’s year-to-year increase was the first cross-border trucking saw since February 2020, just before the US implemented lockdowns across the states in response to the COVID-19 pandemic, and logistics firms like Titans Transline had to make serious adjustments to adapt.
The value of freight hauled across the US’s national borders increased by 2% in February 2021 compared to January 2021, which saw a 3% drop from December 2020. Since 2013, February has been a low-point for cross-border freight, with the exception of 2017. That being said, February freight saw increases from 2017 to 2020.
Meanwhile, trucking freight didn’t do so well, carrying more than $59bn of the $96bn of imports and exports in February, which is a 3% decrease from January 2021, as well as a 1% decrease from February of the prior year.
On a monthly basis, Canada truck freight went up by more than 1%, while Mexico truck freight went down by close to 6%. The top commodities for truckers were electrical machinery, vehicles, measuring and testing instruments, and plastics, as well as computer parts and related machinery.
February’s cross-border freight went up to nearly $96bn, a $1.5bn increase from January 2021. This, however, is still a $90mn drop from February 2020.
All modes of freight transport saw a bit of a monthly drop, except for pipeline and air, with rail freight seeing the biggest drop of 7.5%, followed by trucking and vessel, which both saw a 2.4% decrease. In sharp contrast, pipeline freight went up by more than 76%.
Trucking’s doing fairly well, accounting for about 57% of all cross-border freight between US and Canada, followed by rail at more 15%. Of the $48bn of freight that moved in and out of Mexico, trucks were responsible for moving at least 67% of the freight.