Laredo Top Trading Partners
Total trade: $44.06 billion
Top U.S. Trading Partners
Total U.S. trade: $594.81 billion
Laredo’s trade increases 5.05 percent through February
Laredo’s trade with the world rose to $44.06 billion through two months of 2015, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 5.05 percent above its total trade during the same time period last year. Laredo’s exports increased 3.04 percent while imports rose 6.71 percent. Laredo’s deficit was $5.08 billion.
Through February 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 5.03 percent to $42.43 billion.
Exports rose 2.66 percent to $19.35 billion. Imports rose 7.11 percent to $23.08 billion.
- Trade with No.2 China fell 1.56 percent to $593.43 million.
Exports rose 55.25 percent to $2.16 million. Imports fell 1.69 percent to $591.27 million.
- Trade with No.3 Malaysia rose 8.35 percent to $165.55 million.
Exports rose 2 percent to $142,620. Imports rose 8.26 percent to $165.41 million.
- Trade with No.4 Japan rose 37.16 percent to $137.17 million.
Exports fell 16.2 percent to $391,343. Imports rose 37.42 percent to $136.78 million.
- Trade with No.5 Thailand rose 25.11 percent to $82.88 million.
Exports rose 211.09 percent to $101,760. Imports rose 25.02 percent to $82.78 million.
Laredo’s top five trading partners through February accounted for 98.53 percent of its trade with the world. The U.S. average for the same time period was 54.25 percent.
Laredo had trade surpluses with 31 countries and deficits with 87 through February. That compares with 23 surpluses and 88 deficits for the same period one year earlier. The top three surpluses through February of this year were with Panama, $58.5 million; Switzerland, $18.15 million; and Guatemala, $8.67 million. The top three deficits through February of this year were with Mexico, $3.73 billion; China, $589.12 million; and Malaysia, $165.26 million.
Top Exports from Laredo
Total Exports: $19.49 billion
|1||Motor vehicle parts||$2,122,188,273|
|2||Internal combustion piston engines, including airc||$545,497,253|
|3||Landline, cellular phone equipment||$446,209,398|
|4||Gasoline, other fuels||$438,882,324|
|5||Motor vehicles for transporting people||$320,212,005|
|7||Electrical supplies, apparatus, less than 1000V||$283,930,175|
|9||Taps, cocks and valves for pipes, tanks||$253,921,604|
|10||Petroleum gases, other gaseous hydrocarbons||$252,522,198|
Top Imports to Laredo
Total Imports: $24.57 billion
|1||Motor vehicle parts||$2,652,876,095|
|3||Landline, cellular phone equipment||$1,347,408,060|
|4||Motor vehicles for transporting people||$1,268,951,429|
|6||Seats, excluding barber, dental||$719,336,246|
|7||Insulated wire, cable||$669,340,809|
|8||Air conditioning machines||$445,994,186|
|10||Imports of returned exports||$390,513,950|
Meanwhile, total U.S. trade with the world increased to $594.81 billion, down 2.01 percent compared to the same period last year. The nation’s exports dropped 4.6 percent to $239.9 billion; imports dropped 0.18 percent to $354.91 billion. The nation’s top five customs districts so far this year, by value, are New York City, Los Angeles, Laredo, Detroit and Houston. The overall trade deficit was $115.01 billion, up compared to the same period of last year when the deficit was $104.07 billion.
Laredo’s top five exports by value through February were Motor vehicle parts; Internal combustion piston engines, including airc; Landline, cellular phone equipment; Gasoline, other fuels; and Motor vehicles for transporting people, in that order. They accounted for 19.87 percent of total exports to 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 34.26 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts rose 10.56 percent compared to last year to $2.12 billion.
- Internal combustion piston engines, including airc rose 3.25 percent compared to last year to $545.5 million.
- Landline, cellular phone equipment fell 2.33 percent compared to last year to $446.21 million.
- Gasoline, other fuels fell 15.76 percent compared to last year to $438.88 million.
- Motor vehicles for transporting people rose 8.67 percent compared to last year to $320.21 million.
On the import side:
- Motor vehicle parts rose 10.99 percent compared to last year to $2.65 billion.
- Commercial vehicles rose 4.57 percent compared to last year to $2.07 billion.
- Landline, cellular phone equipment rose 2 percent compared to last year to $1.35 billion.
- Motor vehicles for transporting people rose 7.1 percent compared to last year to $1.27 billion.
- Tractors rose 15.33 percent compared to last year to $1.08 billion.
For the same period last year, the Laredo Customs district posted total trade with the world of $41.94 billion. The district’s deficit was $4.11 billion. At the end of the year, the Customs district’s top five trading partners were Mexico, China, Malaysia, Japan and Thailand. Exports totaled $18.91 billion and imports came to $23.02 billion.