Laredo Top Trading Partners
Total trade: $303.37 billion
January – December 2017
Top U.S. Trading Partners
Total U.S. trade: $3.89 trillion
Laredo’s trade increases 7.13 percent through December
Laredo’s trade with the world rose 7.13 percent, from $283.18 billion to $303.37 billion in 2017 when compared to the same period the previous year, according to a WorldCity analysis of latest U.S. Census Bureau data. Laredo’s exports increased 6.48 percent while imports rose 7.6 percent. Laredo’s deficit was $51.36 billion.
Through December 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 Thailand and No. 5 Japan, respectively.
Taking a closer look at the leading trade partners with Laredo:
- Trade with No. 1 Mexico rose 7.51 percent to $292.97 billion.
Exports rose 6.49 percent to $125.34 billion. Imports rose 8.28 percent to $167.63 billion.
- Trade with No. 2 China rose 5.23 percent to $4.02 billion.
Exports rose 18.82 percent to $11.9 million. Imports rose 5.19 percent to $4.01 billion.
- Trade with No. 3 Malaysia fell 0.77 percent to $1.04 billion.
Exports fell 2.54 percent to $764,643. Imports fell 0.77 percent to $1.04 billion.
- Trade with No. 4 Thailand rose 1.11 percent to $682.48 million.
Exports rose 30.48 percent to $1.73 million. Imports rose 1.06 percent to $680.75 million.
- Trade with No. 5 Japan rose 12.76 percent to $677.94 million.
Exports rose 38 percent to $3.43 million. Imports rose 12.65 percent to $674.51 million.
Laredo’s top five trading partners through December accounted for 98.69 percent of its trade with the world. The U.S. average for the same time period was 55.3 percent.
Laredo had trade surpluses with 52 countries and deficits with 124 through December. That compares with 56 surpluses and 118 deficits for the same period one year earlier. The top three surpluses through December of this year were with Panama, $171.35 million; Guatemala, $111.78 million; and Honduras, $28.9 million. The top three deficits through December of this year were with Mexico, $42.29 billion; China, $3.99 billion; and Malaysia, $1.04 billion.
Top Exports from Laredo
Total Exports: $126.01 billion
|1||Motor vehicle parts||$13,021,338,356|
|2||Gasoline, other fuels||$3,874,579,679|
|4||Cell phones, related equipment||$2,526,799,023|
|5||Petroleum gases, other gaseous hydrocarbons||$2,018,471,752|
|6||Electrical supplies, apparatus, less than 1000V||$1,893,534,691|
|9||Motor vehicles for transporting people||$1,736,807,992|
January – December 2017
Top Imports to Laredo
Total Imports: $177.37 billion
|1||Motor vehicle parts||$19,627,999,437|
|3||Motor vehicles for transporting people||$14,791,196,157|
|4||Cell phones, related equipment||$10,256,177,908|
|6||Seats, excluding barber, dental||$5,096,246,997|
|8||Insulated wire, cable||$4,333,691,086|
|10||Air conditioning machines||$2,883,979,819|
Meanwhile, total U.S. trade with the world increased to $3.89 trillion, up 6.77 percent compared to the same period last year. The nation’s exports climbed 6.4 percent to $1.55 trillion; imports climbed 7.02 percent to $2.34 trillion. 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 $796.17 billion, up compared to the same period of last year when the deficit was $735.46 billion.
Laredo’s top five exports by value through December were Motor vehicle parts; Gasoline, other fuels; Diesel engines; Cell phones, related equipment; and Petroleum gases, other gaseous hydrocarbons, in that order. They accounted for 19.69 percent of total exports from Laredo.
Laredo’s top five imports by value through December were Motor vehicle parts; Commercial vehicles; Motor vehicles for transporting people; Cell phones, related equipment; and Tractors. They accounted for 36.85 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts rose 2.88 percent compared to last year to $13.02 billion.
- Gasoline, other fuels rose 44.46 percent compared to last year to $3.87 billion.
- Diesel engines rose 42.58 percent compared to last year to $3.37 billion.
- Cell phones, related equipment fell 4.96 percent compared to last year to $2.53 billion.
- Petroleum gases, other gaseous hydrocarbons rose 28.14 percent compared to last year to $2.02 billion.
On the import side:
- Motor vehicle parts rose 2.7 percent compared to last year to $19.63 billion.
- Commercial vehicles rose 0.96 percent compared to last year to $15.16 billion.
- Motor vehicles for transporting people rose 57 percent compared to last year to $14.79 billion.
- Cell phones, related equipment fell 1.55 percent compared to last year to $10.26 billion.
- Tractors rose 19.37 percent compared to last year to $5.53 billion.
Last year the Laredo customs district posted total trade with the world of $283.18 billion. The district’s deficit was $46.5 billion. At the end of the year, the custom’s districts top five trading partners were Mexico, China, Malaysia, Thailand and Japan. Exports totaled $118.34 billion and imports came to $164.84 billion.