Laredo Top Trading Partners
Total trade: $186.66 billion
January – August 2016
Top U.S. Trading Partners
Total U.S. trade: $2.39 trillion
Laredo’s trade decreases 1.47 percent through August
Laredo’s trade with the world fell 1.47 percent, from $189.44 billion to $186.66 billion through the first eight 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 4.21 percent while imports rose 0.6 percent. Laredo’s deficit was $30.58 billion.
Through August 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 fell 1.44 percent to $179.5 billion.
Exports fell 4.14 percent to $77.56 billion. Imports rose 0.71 percent to $101.94 billion.
- Trade with No.2 China fell 3.86 percent to $2.51 billion.
Exports fell 52.92 percent to $5.22 million. Imports fell 3.65 percent to $2.51 billion.
- Trade with No.3 Malaysia fell 8.35 percent to $682.61 million.
Exports rose 74.33 percent to $436,959. Imports fell 8.38 percent to $682.17 million.
- Trade with No.4 Thailand rose 15.06 percent to $443.28 million.
Exports rose 244.01 percent to $1.07 million. Imports rose 14.88 percent to $442.21 million.
- Trade with No.5 Japan fell 23.5 percent to $374.35 million.
Exports fell 49.52 percent to $1.42 million. Imports fell 23.34 percent to $372.93 million.
Laredo’s top five trading partners through August accounted for 98.32 percent of its trade with the world. The U.S. average for the same time period was 54.81 percent.
Laredo had trade surpluses with 50 countries and deficits with 116 through August. That compares with 49 surpluses and 115 deficits for the same period one year earlier. The top three surpluses through August of this year were with Russia, $176.13 million; Guatemala, $73.95 million; and Belize, $11.3 million. The top three deficits through August of this year were with Mexico, $24.38 billion; China, $2.5 billion; and Malaysia, $681.73 million.
Top Exports from Laredo
Total Exports: $78.04 billion
|1||Motor vehicle parts||$8,349,358,242|
|2||Landline, cellular phone equipment||$1,793,303,235|
|3||Internal combustion piston engines, including airc||$1,706,041,733|
|4||Gasoline, other fuels||$1,701,668,618|
|5||Motor vehicles for transporting people||$1,601,163,787|
|8||Electrical supplies, apparatus, less than 1000V||$1,184,815,606|
|9||Taps, cocks and valves for pipes, tanks||$1,022,854,069|
January – August 2016
Top Imports to Laredo
Total Imports: $108.62 billion
|1||Motor vehicle parts||$12,700,008,345|
|3||Landline, cellular phone equipment||$6,843,926,537|
|4||Motor vehicles for transporting people||$5,328,117,429|
|5||Seats, excluding barber, dental||$3,504,649,813|
|7||Insulated wire, cable||$3,039,381,487|
|9||Internal combustion engines, including aircraft||$2,080,883,677|
Meanwhile, total U.S. trade with the world increased to $2.39 trillion, down 4.6 percent compared to the same period last year. The nation’s exports dropped 5.72 percent to $950.27 billion; imports dropped 3.84 percent to $1.44 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 $485.45 billion, up compared to the same period of last year when the deficit was $485.06 billion.
Laredo’s top five exports by value through August were Motor vehicle parts; Landline, cellular phone equipment; Internal combustion piston engines, including airc; Gasoline, other fuels; and Motor vehicles for transporting people, in that order. They accounted for 19.42 percent of total exports from 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 Seats, excluding barber, dental. They accounted for 34.94 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts fell 11.57 percent compared to last year to $8.35 billion.
- Landline, cellular phone equipment fell 9.39 percent compared to last year to $1.79 billion.
- Internal combustion piston engines, including airc fell 1.49 percent compared to last year to $1.71 billion.
- Gasoline, other fuels fell 3.73 percent compared to last year to $1.7 billion.
- Motor vehicles for transporting people rose 14.58 percent compared to last year to $1.6 billion.
On the import side:
- Motor vehicle parts rose 5.5 percent compared to last year to $12.7 billion.
- Commercial vehicles rose 2.76 percent compared to last year to $9.57 billion.
- Landline, cellular phone equipment rose 7.9 percent compared to last year to $6.84 billion.
- Motor vehicles for transporting people fell 12 percent compared to last year to $5.33 billion.
- Seats, excluding barber, dental rose 6.46 percent compared to last year to $3.5 billion.
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.