Laredo Top Trading Partners
Total trade: $44.12 billion
January - February 2016
Top U.S. Trading Partners
Total U.S. trade: $556.37 billion
Laredo’s trade increases 0.14 percent through February
Laredo’s trade with the world rose 0.14 percent, from $44.06 billion to $44.12 billion through the first two months of 2016 when compared to the same period the previous year, according to a WorldCity analysis of latest U.S. Census Bureau data. Laredo’s exports decreased 4.2 percent while imports rose 3.58 percent. Laredo’s deficit was $6.78 billion.
Through February the district's top five trade partners were No. 1 Mexico, No. 2 China, No. 3 Malaysia, No. 4 Thailand and No. 5 Japan compared to the same period last year when the top five were No. 1 Mexico, No. 2 China, No. 3 Malaysia, No. 4 Japan and No. 5 Thailand, respectively.
Taking a closer look at the leading trade partners with Laredo:
- Trade with No.1 Mexico rose 0.59 percent to $42.68 billion.
Exports fell 3.82 percent to $18.61 billion. Imports rose 4.29 percent to $24.07 billion.
- Trade with No.2 China fell 11.34 percent to $526.16 million.
Exports rose 2.63 percent to $2.21 million. Imports fell 11.39 percent to $523.94 million.
- Trade with No.3 Malaysia fell 16.77 percent to $137.79 million.
Exports rose 25.99 percent to $179,680. Imports fell 16.81 percent to $137.61 million.
- Trade with No.4 Thailand rose 17.32 percent to $97.23 million.
Exports rose 29.63 percent to $131,910. Imports rose 17.3 percent to $97.1 million.
- Trade with No.5 Japan fell 40.15 percent to $82.1 million.
Exports rose 35.55 percent to $530,474. Imports fell 40.36 percent to $81.57 million.
Laredo’s top five trading partners through February accounted for 98.65 percent of its trade with the world. The U.S. average for the same time period was 55.8 percent.
Laredo had trade surpluses with 33 countries and deficits with 86 through February. That compares with 31 surpluses and 87 deficits for the same period one year earlier. The top three surpluses through February of this year were with Guatemala, $12.89 million; Uruguay, $4.08 million; and Belize, $3.88 million. The top three deficits through February of this year were with Mexico, $5.46 billion; China, $521.73 million; and Malaysia, $137.43 million.
Top Exports from Laredo
Total Exports: $18.67 billion
|1||Motor vehicle parts||$2,259,233,739|
|2||Landline, cellular phone equipment||$425,116,149|
|3||Motor vehicles for transporting people||$369,279,009|
|4||Gasoline, other fuels||$354,147,730|
|6||Internal combustion piston engines, including airc||$302,330,570|
|7||Electrical supplies, apparatus, less than 1000V||$291,347,092|
|9||Taps, cocks and valves for pipes, tanks||$259,438,670|
January - February 2016
Top Imports to Laredo
Total Imports: $25.45 billion
|1||Motor vehicle parts||$3,064,789,306|
|3||Landline, cellular phone equipment||$1,411,888,302|
|4||Motor vehicles for transporting people||$1,282,847,660|
|6||Seats, excluding barber, dental||$850,730,960|
|7||Insulated wire, cable||$712,765,489|
|10||Electrical boards, panels and switches||$422,499,450|
Meanwhile, total U.S. trade with the world increased to $556.37 billion, down 4.27 percent compared to the same period last year. The nation’s exports dropped 7.37 percent to $222.22 billion; imports dropped 2.08 percent to $334.15 billion. The nation’s top five customs districts so far this year, by value, are Los Angeles; New York City; Laredo; Detroit and Chicago. The overall trade deficit was $111.94 billion, up compared to the same period of last year when the deficit was $101.36 billion.
Laredo’s top five exports by value through February were Motor vehicle parts; Landline, cellular phone equipment; Motor vehicles for transporting people; Gasoline, other fuels; and Engine parts, in that order. They accounted for 19.91 percent of total exports from Laredo.
Laredo’s top five imports by value through February were Motor vehicle parts; Commercial vehicles; Landline, cellular phone equipment; Motor vehicles for transporting people; and Tractors. They accounted for 35.41 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts rose 6.46 percent compared to last year to $2.26 billion.
- Landline, cellular phone equipment fell 4.73 percent compared to last year to $425.12 million.
- Motor vehicles for transporting people rose 15.32 percent compared to last year to $369.28 million.
- Gasoline, other fuels fell 19.31 percent compared to last year to $354.15 million.
- Engine parts rose 16.55 percent compared to last year to $308.98 million.
On the import side:
- Motor vehicle parts rose 15.53 percent compared to last year to $3.06 billion.
- Commercial vehicles rose 13.47 percent compared to last year to $2.35 billion.
- Landline, cellular phone equipment rose 4.79 percent compared to last year to $1.41 billion.
- Motor vehicles for transporting people rose 1.1 percent compared to last year to $1.28 billion.
- Tractors fell 16.33 percent compared to last year to $901.76 million.
Last year the Laredo customs district posted total trade with the world of $284.33 billion. The district’s deficit was $41.06 billion. At the end of the year, the custom’s districts top five trading partners were Mexico, China, Malaysia, Japan and Thailand. Exports totaled $121.64 billion and imports came to $162.69 billion.