REPORT: Trucking Industry Revenue Jumped to Almost $800 Billion in 2018
Arlington, Virginia – The trucking industry took in almost $800 billion in revenue in 2018 representing a nearly $100 billion jump from 2017, according to a new report from the American Trucking Associations (ATA).
ATA released its key findings of its annual “ATA American Trucking Trends” study on Wednesday and reported revenues in the trucking industry jumped from $700.1 billion in 2017 to $796.7 billion in 2018.
The revenue totals accounted for 80.3% of the nation’s freight bill, according to ATA.
Further, the report found trucks moved 11.49 billion tons of freight comprising 71.4% of the nation’s tonnage freight.
“2018 was a year of dynamic growth for the trucking industry,” said ATA Chief Economist Bob Costello. “Trends is a simple, one-stop resource to see where our industry is so executives and policymakers can make informed decisions about where it is going.”
Revenue wasn’t the only quantifiable metric on the rise in trucking in 2018, according to the report.
ATA says 7.8 million people in the U.S. are employed in “trucking-related jobs,” which is an increase of 100,000 from 2017.
ATA’s report also included data on the size composition of carriers in the U.S.
According to the report’s findings, most carriers are small companies – 91.3% of fleets operate six or fewer trucks and 97.4% operate 20 or fewer.
The report also detailed driver demographics as well.
ATA says women make up 6.6% of the industry’s drivers and minorities account for 40.4% of truckers.
Also included was the latest findings on North America’s cross-border trade.
According to ATA, trucks moved 67.4% of surface freight between the U.S. and Canada – up 3.6% in 2018 – and 83.5% of cross-border trade with Mexico, up 10.2% from the previous year.
ATA makes the entire report available for sale HERE.
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