|1||Motor vehicle parts||$2.91 B|
|2||Gasoline, other fuels||$1.04 B|
|3||Internal combustion engines||$981.69 M|
|4||Catalytic converters, air filters, oil filters, et||$452.09 M|
|5||Engine parts||$441 M|
|6||Cell phones, related equipment||$438.77 M|
|8||Taps, cocks and valves for pipes, tanks||$407.11 M|
|9||Compressors and pumps||$350.98 M|
|10||Electrical supplies, apparatus, less than 1000V||$349.49 M|
|1||Motor vehicle parts||$4.78 B|
|2||Passenger vehicles||$3.14 B|
|4||Cell phones, related equipment||$2.03 B|
|5||Commercial vehicles||$1.8 B|
|7||Air conditioning machines||$1.16 B|
|8||Refrigerators, freezers||$1.07 B|
|9||Insulated wire, cable||$1.03 B|
|10||Motor vehicle engines||$755.06 M|
Port Laredo’s trade decreases 23.33 percent through May
Port Laredo’s trade with the world fell 23.33 percent, from $96.71 billion to $74.15 billion through the first five months of 2020 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 $1.48 trillion, with exports at $582.11 billion and imports at $898.44 billion. The nation’s total trade decreased 13.61 percent compared to the same period last year. Exports fell 15.09 percent and imports fell 12.63 percent.
Port Laredo ranked No. 2 for total trade among the nation’s roughly 450 airports, seaports and border crossings through May of 2020.
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; Port of Newark and John F. Kennedy International Airport.
Through May Port Laredo’s top trade partners were No. 1 Mexico, No. 2 China, No. 3 France, No. 4 Japan and No. 5 Malaysia. Through the same period of the previous year, the top trade partners were held by Mexico, China, Japan, Malaysia and France, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 Mexico fell 23.77 percent to $72.51 billion.
Exports fell 25.92 percent to $29.85 billion. Imports fell 22.2 percent to $42.67 billion.
- Trade with No. 2 China fell 22.97 percent to $423.44 million.
Exports fell 2.58 percent to $581,552. Imports fell 22.99 percent to $422.86 million.
- Trade with No. 3 France rose 169.62 percent to $264.23 million.
Exports fell 74.8 percent to $12,786. Imports rose 169.75 percent to $264.22 million.
- Trade with No. 4 Japan fell 17.92 percent to $112.74 million.
Exports rose 532.2 percent to $136,676. Imports fell 18.01 percent to $112.61 million.
- Trade with No. 5 Malaysia fell 10.48 percent to $96.77 million.
Exports rose 434.08 percent to $236,811. Imports fell 10.66 percent to $96.54 million.
Port Laredo’s top five trading partners through May accounted for 99 percent of its trade with the world.
Port Laredo had trade surpluses with 36 countries and deficits with 93 through May. That compares with 34 surpluses and 96 deficits for the same period one year earlier. The top three surpluses through May of this year were with Costa Rica, $13.73 million; South Africa, $5.43 million; and Algeria, $477,411. The top three deficits through May of this year were with Mexico, $12.82 billion; China, $422.28 million; and France, $264.21 million.
Through May its top exports were Motor vehicle parts; Gasoline, other fuels; Internal combustion engines; Catalytic converters, air filters, oil filters, etc.; and Engine parts, in that order. Those accounted for 19.49 percent of its total outbound trade. The Port’s top imports were Motor vehicle parts; Passenger vehicles; Computers; Cell phones, related equipment; and Commercial vehicles, accounting for 31.14 percent of all inbound shipments.
Looking more closely at Port Laredo’s exports:
- Motor vehicle parts fell 38.75 percent compared to last year to $2.91 billion.
- Gasoline, other fuels fell 24.52 percent compared to last year to $1.04 billion.
- Internal combustion engines fell 46.33 percent compared to last year to $981.69 million.
- Catalytic converters, air filters, oil filters, etc. fell 32.82 percent compared to last year to $452.09 million.
- Engine parts fell 41.97 percent compared to last year to $441 million.
On the import side:
- Motor vehicle parts fell 32.7 percent compared to last year to $4.78 billion.
- Passenger vehicles fell 45.81 percent compared to last year to $3.14 billion.
- Computers fell 6.18 percent compared to last year to $2.03 billion.
- Cell phones, related equipment rose 11.75 percent compared to last year to $2.03 billion.
- Commercial vehicles fell 23.01 percent compared to last year to $1.8 billion.
Last year Port Laredo posted total trade with the world of $231.58 billion. The Port’s deficit was $41.41 billion. Exports totaled $95.09 billion and imports came to $136.5 billion.