Laredo Top Trading Partners
Total trade: $184.6 billion
Top U.S. Trading Partners
Total U.S. trade: $2.62 trillion
Laredo’s trade increases 10.88 percent through August
Laredo’s trade with the world rose to $184.6 billion through eight months of 2014, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 10.88 percent above its total trade during the same time period last year. Laredo’s exports increased 9.82 percent while imports rose 11.73 percent. Laredo’s deficit was $22.03 billion.
Through August the district’s top five trade partners were No. 1 Mexico, No. 2 China, No. 3 Malaysia, No. 4 Japan and No. 5 Thailand 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 11.21 percent to $177.7 billion.
Exports rose 9.74 percent to $80.74 billion. Imports rose 12.46 percent to $96.96 billion.
- Trade with No.2 China fell 7.27 percent to $2.47 billion.
Exports rose 218.07 percent to $25.89 million. Imports fell 7.96 percent to $2.44 billion.
- Trade with No.3 Malaysia rose 8.51 percent to $628.35 million.
Exports fell 46.70 percent to $488,942. Imports rose 8.59 percent to $627.87 million.
- Trade with No.4 Japan rose 41.68 percent to $507.92 million.
Exports rose 174.64 percent to $7.97 million. Imports rose 40.60 percent to $499.95 million.
- Trade with No.5 Thailand rose 4.12 percent to $340.12 million.
Exports rose 118.35 percent to $329,027. Imports rose 4.07 percent to $339.79 million.
Laredo’s top five trading partners through August accounted for 98.40 percent of its trade with the world. The U.S. average for the same time period was 53.81 percent.
Laredo had trade surpluses with 42 countries and deficits with 106 through August. That compares with 48 surpluses and 100 deficits for the same period one year earlier. The top three surpluses through August of this year were with Panama, $141.16 million; Switzerland, $110.14 million; and Guatemala, $58.76 million. The top three deficits through August of this year were with Mexico, $16.22 billion; China, $2.42 billion; and Malaysia, $627.38 million.
Top Exports from Laredo
Total Exports: $81.28 billion
|1||Motor vehicle parts||$8,297,499,493|
|2||Internal combustion piston engines, including airc||$2,434,384,788|
|3||Gasoline, other fuels||$2,231,989,652|
|4||Landline, cellular phone equipment||$1,895,669,029|
|5||Motor vehicles for transporting people||$1,551,467,682|
|6||Petroleum gases, other gaseous hydrocarbons||$1,346,212,226|
|8||Electrical supplies, apparatus, less than 1000V||$1,227,345,043|
|10||Insulated wire, cable||$1,060,749,190|
Top Imports to Laredo
Total Imports: $103.31 billion
|1||Motor vehicle parts||$10,771,696,089|
|3||Landline, cellular phone equipment||$5,781,201,459|
|4||Motor vehicles for transporting people||$5,701,397,155|
|6||Seats, excluding barber, dental||$3,009,850,015|
|7||Insulated wire, cable||$2,680,730,502|
|9||Air conditioning machines||$1,966,318,623|
Meanwhile, total U.S. trade with the world increased to $2.62 trillion, up 3.19 percent compared to the same period last year. The nation’s exports climbed 3.29 percent to $1.08 trillion; imports climbed 3.11 percent to $1.55 trillion. The nation’s top five customs districts so far this year, by value, are Los Angeles, New York City, Laredo, Houston and Detroit. The overall trade deficit was $471.04 billion, up compared to the same period of last year when the deficit was $458.6 billion.
Laredo’s top five exports by value through August were Motor vehicle parts; Internal combustion piston engines, including airc; Gasoline, other fuels; Landline, cellular phone equipment; and Motor vehicles for transporting people, in that order. They accounted for 20.19 percent of total exports to Laredo.
Laredo’s top five imports by value through August were Motor vehicle parts; Commercial vehicles; Landline, cellular phone equipment; Motor vehicles for transporting people; and Tractors. They accounted for 34.91 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts fell 4.66 percent compared to last year to $8.3 billion.
- Internal combustion piston engines, including airc rose 135.36 percent compared to last year to $2.43 billion.
- Gasoline, other fuels rose 17.63 percent compared to last year to $2.23 billion.
- Landline, cellular phone equipment rose 1.00 percent compared to last year to $1.9 billion.
- Motor vehicles for transporting people fell 0.89 percent compared to last year to $1.55 billion.
On the import side:
- Motor vehicle parts rose 12.02 percent compared to last year to $10.77 billion.
- Commercial vehicles rose 26.41 percent compared to last year to $9.2 billion.
- Landline, cellular phone equipment rose 2.99 percent compared to last year to $5.78 billion.
- Motor vehicles for transporting people rose 6.54 percent compared to last year to $5.7 billion.
- Tractors rose 38.37 percent compared to last year to $4.61 billion.
For the same period last year, the Laredo Customs district posted total trade with the world of $166.49 billion. The district’s deficit was $18.46 billion. At the end of the year, the Customs district’s top five trading partners were Mexico, China, Malaysia, Japan and Thailand. Exports totaled $74.02 billion and imports came to $92.47 billion.