|1||Motor vehicle parts||$10.1 B|
|2||Diesel engines||$3.51 B|
|3||Gasoline, other fuels||$1.99 B|
|4||Cell phones, related equipment||$1.71 B|
|5||Engine parts||$1.52 B|
|7||Centrifuges, filters, machines and parts||$1.27 B|
|8||Taps, cocks and valves for pipes, tanks||$1.26 B|
|9||Electrical supplies, apparatus, less than 1000V||$1.19 B|
|10||Rubber tires||$1.03 B|
|1||Motor vehicle parts||$13.59 B|
|2||Motor vehicles for transporting people||$11.56 B|
|3||Cell phones, related equipment||$7.58 B|
|6||Commercial vehicles||$4.23 B|
|7||Motor vehicle engines||$2.84 B|
|8||Insulated wire, cable||$2.66 B|
|9||Seats, excluding barber, dental||$2.5 B|
|10||Air conditioning machines||$2.47 B|
Port Laredo’s trade increases 10.31 percent through October
Port Laredo’s trade with the world rose 10.31 percent, from $179.42 billion to $197.91 billion through the first 10 months of 2018 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data.
During the same time period, the nation’s total trade was $3.51 trillion, with exports at $1.39 trillion and imports at $2.12 trillion. The nation’s total trade increased 9.25 percent compared to the same period last year. Exports rose 8.95 percent and imports rose 9.44 percent.
Port Laredo ranked No. 2 for total trade among the nation’s roughly 450 airports, seaports and border crossings through October of 2018. During the same period of 2017 it ranked No. 2. It finished No. 2 in the last full year.
The nation’s top five “ports” — airports, seaports and border crossings — so far this year, by value, are Port of Los Angeles; Port Laredo; Chicago O’Hare International Airport; John F. Kennedy International Airport and Port of Newark.
Through October Port Laredo’s top trade parters were No. 1 Mexico, No. 2 China, No. 3 Malaysia, No. 4 Thailand and No. 5 France . Through the same period of the previous year, the top trade partners were held by Mexico, China, Malaysia, Thailand and Japan, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 Mexico rose 10.44 percent to $192.6 billion.
Exports rose 7.3 percent to $84.6 billion. Imports rose 13.03 percent to $108 billion.
- Trade with No. 2 China rose 4.94 percent to $2.01 billion.
Exports rose 16.23 percent to $844,225. Imports rose 4.93 percent to $2.01 billion.
- Trade with No. 3 Malaysia fell 12.81 percent to $746.33 million.
Exports rose 22.89 percent to $368,324. Imports fell 12.82 percent to $745.96 million.
- Trade with No. 4 Thailand fell 10.75 percent to $388.68 million.
Exports rose 58.29 percent to $834,116. Imports fell 10.83 percent to $387.84 million.
- Trade with No. 5 France rose 268.19 percent to $374.09 million.
Exports fell 17.43 percent to $151,853. Imports rose 268.71 percent to $373.93 million.
Port Laredo’s top five trading partners through October accounted for 99.1 percent of its trade with the world.
Port Laredo had trade surpluses with 41 countries and deficits with 106 through October. That compares with 49 surpluses and 106 deficits for the same period one year earlier. The top three surpluses through October of this year were with Panama, $120.81 million; Saudi Arabia, $2.2 million; and Morocco, $1.44 million. The top three deficits through October of this year were with Mexico, $23.39 billion; China, $2.01 billion; and Malaysia, $745.59 million.
Through October it’s top exports were Motor vehicle parts; Diesel engines; Gasoline, other fuels; Cell phones, related equipment; and Engine parts, in that order. Those accounted for 22.21 percent of its total outbound trade. The Port’s top imports were Motor vehicle parts; Motor vehicles for transporting people; Cell phones, related equipment; Tractors; and Computers, accounting for 39.37 percent of all inbound shipments.
Looking more closely at Port Laredo’s exports:
- Motor vehicle parts rose 5.18 percent compared to last year to $10.1 billion.
- Diesel engines rose 23.59 percent compared to last year to $3.51 billion.
- Gasoline, other fuels rose 68.82 percent compared to last year to $1.99 billion.
- Cell phones, related equipment fell 5.23 percent compared to last year to $1.71 billion.
- Engine parts fell 0.44 percent compared to last year to $1.52 billion.
On the import side:
- Motor vehicle parts rose 11.46 percent compared to last year to $13.59 billion.
- Motor vehicles for transporting people rose 25.23 percent compared to last year to $11.56 billion.
- Cell phones, related equipment fell 4.28 percent compared to last year to $7.58 billion.
- Tractors rose 41.64 percent compared to last year to $6.6 billion.
- Computers rose 52.56 percent compared to last year to $5.22 billion.
Last year Port Laredo posted total trade with the world of $199.88 billion. The Port’s deficit was $22.5 billion . At the end of the year, the port’s top five trade partners were Canada, Germany, Iceland, Norway and The Netherlands. Exports totaled $88.69 billion and imports came to $111.19 billion.