Laredo Top Trading Partners
Total trade: $173.7 billion
January – July 2017
Top U.S. Trading Partners
Total U.S. trade: $2.21 trillion
Laredo’s trade increases 7.42 percent through July
Laredo’s trade with the world rose 7.42 percent, from $161.7 billion to $173.7 billion through the first seven months of 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 6.83 percent while imports rose 7.84 percent. Laredo’s deficit was $29.4 billion.
Through July 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 7.85 percent to $167.73 billion.
Exports rose 7.09 percent to $71.84 billion. Imports rose 8.42 percent to $95.89 billion.
- Trade with No. 2 China rose 9.67 percent to $2.37 billion.
Exports rose 41.34 percent to $5.79 million. Imports rose 9.61 percent to $2.36 billion.
- Trade with No. 3 Malaysia rose 6.83 percent to $631.19 million.
Exports rose 46.88 percent to $567,793. Imports rose 6.81 percent to $630.62 million.
- Trade with No. 4 Thailand rose 7.24 percent to $411.56 million.
Exports fell 68.38 percent to $323,900. Imports rose 7.45 percent to $411.24 million.
- Trade with No. 5 Japan rose 16.92 percent to $379.74 million.
Exports rose 105.01 percent to $2.27 million. Imports rose 16.62 percent to $377.48 million.
Laredo’s top five trading partners through July accounted for 98.75 percent of its trade with the world. The U.S. average for the same time period was 54.78 percent.
Laredo had trade surpluses with 45 countries and deficits with 116 through July. That compares with 51 surpluses and 111 deficits for the same period one year earlier. The top three surpluses through July of this year were with Panama, $61.37 million; Guatemala, $59.78 million; and Belize, $14.14 million. The top three deficits through July of this year were with Mexico, $24.05 billion; China, $2.36 billion; and Malaysia, $630.06 million.
Top Exports from Laredo
Total Exports: $72.15 billion
|1||Motor vehicle parts||$7,417,829,241|
|2||Gasoline, other fuels||$2,040,193,506|
|4||Cell phones, related equipment||$1,361,672,714|
|5||Electrical supplies, apparatus, less than 1000V||$1,088,168,774|
|7||Petroleum gases, other gaseous hydrocarbons||$1,074,945,174|
|8||Motor vehicles for transporting people||$1,018,664,725|
January – July 2017
Top Imports to Laredo
Total Imports: $101.55 billion
|1||Motor vehicle parts||$11,396,565,515|
|3||Motor vehicles for transporting people||$7,884,636,367|
|4||Cell phones, related equipment||$5,848,126,147|
|5||Seats, excluding barber, dental||$2,901,973,139|
|7||Insulated wire, cable||$2,470,497,016|
|9||Air conditioning machines||$1,817,267,860|
Meanwhile, total U.S. trade with the world increased to $2.21 trillion, up 6.67 percent compared to the same period last year. The nation’s exports climbed 6.31 percent to $879.69 billion; imports climbed 6.91 percent to $1.33 trillion. The nation’s top five customs districts so far this year, by value, are Los Angeles; New York City; Laredo; Detroit and New Orleans. The overall trade deficit was $447.79 billion, up compared to the same period of last year when the deficit was $414.15 billion.
Laredo’s top five exports by value through July were Motor vehicle parts; Gasoline, other fuels; Diesel engines; Cell phones, related equipment; and Electrical supplies, apparatus, less than 1000V, in that order. They accounted for 19.02 percent of total exports from Laredo.
Laredo’s top five imports by value through July were Motor vehicle parts; Commercial vehicles; Motor vehicles for transporting people; Cell phones, related equipment; and Seats, excluding barber, dental. They accounted for 36.43 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts rose 2.86 percent compared to last year to $7.42 billion.
- Gasoline, other fuels rose 39.67 percent compared to last year to $2.04 billion.
- Diesel engines rose 17.18 percent compared to last year to $1.81 billion.
- Cell phones, related equipment fell 10.3 percent compared to last year to $1.36 billion.
- Electrical supplies, apparatus, less than 1000V rose 5.8 percent compared to last year to $1.09 billion.
On the import side:
- Motor vehicle parts rose 3.73 percent compared to last year to $11.4 billion.
- Commercial vehicles rose 4.55 percent compared to last year to $8.96 billion.
- Motor vehicles for transporting people rose 82.13 percent compared to last year to $7.88 billion.
- Cell phones, related equipment fell 0.62 percent compared to last year to $5.85 billion.
- Seats, excluding barber, dental fell 4.07 percent compared to last year to $2.9 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.