The trucking industry brought in $700.4 billion in revenue in 2014, according to a report released this week by the American Trucking Associations. That’s the highest total revenue in history for the industry and the first time surpassing the $700 billion mark, ATA says.

The combination of a significant jump in freight volume in the year and tightening capacity spurred the revenue uptick, says ATA Chief Economist Bob Costello.

Costello gives more analysis of the report in the video above.

ATA’s report, its annual American Trucking Trends, also showed the trucking industry moved 68.8 percent of all domestic freight, or 9.96 billion tons, in 2014.

And the $700.4 billion in revenue accounted for 80.3 percent of all freight transporation spending, ATA says.

ATA also released these short infographics with its report: