Laredo Top Trading Partners
Total trade: $161.7 billion
January – July 2016
Top U.S. Trading Partners
Total U.S. trade: $2.07 trillion
Laredo’s trade decreases 2.14 percent through July
Laredo’s trade with the world fell 2.14 percent, from $165.23 billion to $161.7 billion through the first seven 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 5.36 percent while imports rose 0.31 percent. Laredo’s deficit was $26.64 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 Japan and No. 5 Thailand, respectively.
Taking a closer look at the leading trade partners with Laredo:
- Trade with No.1 Mexico fell 2.12 percent to $155.53 billion.
Exports fell 5.32 percent to $67.09 billion. Imports rose 0.46 percent to $88.44 billion.
- Trade with No.2 China fell 4.98 percent to $2.16 billion.
Exports fell 58.35 percent to $4.1 million. Imports fell 4.75 percent to $2.15 billion.
- Trade with No.3 Malaysia fell 6.74 percent to $590.83 million.
Exports rose 63.82 percent to $386,569. Imports fell 6.76 percent to $590.44 million.
- Trade with No.4 Thailand rose 13.03 percent to $383.76 million.
Exports rose 272.64 percent to $1.02 million. Imports rose 12.82 percent to $382.74 million.
- Trade with No.5 Japan fell 27.17 percent to $324.79 million.
Exports fell 54.43 percent to $1.11 million. Imports fell 27.02 percent to $323.69 million.
Laredo’s top five trading partners through July accounted for 98.32 percent of its trade with the world. The U.S. average for the same time period was 54.64 percent.
Laredo had trade surpluses with 51 countries and deficits with 111 through July. That compares with 48 surpluses and 111 deficits for the same period one year earlier. The top three surpluses through July of this year were with Russia, $176.6 million; Guatemala, $64.35 million; and Belize, $9.42 million. The top three deficits through July of this year were with Mexico, $21.35 billion; China, $2.15 billion; and Malaysia, $590.05 million.
Top Exports from Laredo
Total Exports: $67.53 billion
|1||Motor vehicle parts||$7,211,674,251|
|2||Internal combustion piston engines, including airc||$1,548,770,777|
|3||Landline, cellular phone equipment||$1,517,982,478|
|4||Gasoline, other fuels||$1,460,723,131|
|5||Motor vehicles for transporting people||$1,415,908,507|
|8||Electrical supplies, apparatus, less than 1000V||$1,028,498,237|
|9||Taps, cocks and valves for pipes, tanks||$891,121,622|
January – July 2016
Top Imports to Laredo
Total Imports: $94.17 billion
|1||Motor vehicle parts||$10,986,740,787|
|3||Landline, cellular phone equipment||$5,884,431,102|
|4||Motor vehicles for transporting people||$4,329,120,894|
|6||Seats, excluding barber, dental||$3,025,096,801|
|7||Insulated wire, cable||$2,619,916,401|
|10||Internal combustion engines, including aircraft||$1,761,106,021|
Meanwhile, total U.S. trade with the world increased to $2.07 trillion, down 5.41 percent compared to the same period last year. The nation’s exports dropped 6.48 percent to $827.5 billion; imports dropped 4.67 percent to $1.24 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 $414.15 billion, down compared to the same period of last year when the deficit was $417.64 billion.
Laredo’s top five exports by value through July 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 19.48 percent of total exports from Laredo.
Laredo’s top five imports by value through July were Motor vehicle parts; Commercial vehicles; Landline, cellular phone equipment; Motor vehicles for transporting people; and Tractors. They accounted for 34.96 percent of all inbound shipments.
Looking more closely at Laredo’s exports:
- Motor vehicle parts fell 11.89 percent compared to last year to $7.21 billion.
- Internal combustion piston engines, including airc fell 0.33 percent compared to last year to $1.55 billion.
- Landline, cellular phone equipment fell 13.62 percent compared to last year to $1.52 billion.
- Gasoline, other fuels fell 6.45 percent compared to last year to $1.46 billion.
- Motor vehicles for transporting people rose 17.48 percent compared to last year to $1.42 billion.
On the import side:
- Motor vehicle parts rose 5.32 percent compared to last year to $10.99 billion.
- Commercial vehicles rose 5.54 percent compared to last year to $8.57 billion.
- Landline, cellular phone equipment rose 9.77 percent compared to last year to $5.88 billion.
- Motor vehicles for transporting people fell 14.54 percent compared to last year to $4.33 billion.
- Tractors fell 30.1 percent compared to last year to $3.15 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.