|1||Motor vehicle parts||$4.31 B|
|2||Internal combustion engines||$1.6 B|
|3||Gasoline, other fuels||$1.51 B|
|4||Catalytic converters, air filters, oil filters, et||$644.08 M|
|5||Engine parts||$636.57 M|
|6||Cell phones, related equipment||$635.71 M|
|7||Computer chips||$598.44 M|
|9||Taps, cocks and valves for pipes, tanks||$558.57 M|
|10||Electrical supplies, apparatus, less than 1000V||$503.29 M|
|1||Motor vehicle parts||$7.47 B|
|2||Passenger vehicles||$5.09 B|
|4||Cell phones, related equipment||$2.89 B|
|5||Commercial vehicles||$2.79 B|
|7||Air conditioning machines||$1.72 B|
|8||Refrigerators, freezers||$1.63 B|
|9||Insulated wire, cable||$1.58 B|
|10||Motor vehicle engines||$1.24 B|
Port Laredo’s trade decreases 20.81 percent through July
Port Laredo’s trade with the world fell 20.81 percent, from $136.23 billion to $107.87 billion through the first seven 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 $2.08 trillion, with exports at $799.82 billion and imports at $1.28 trillion. The nation’s total trade decreased 13.79 percent compared to the same period last year. Exports fell 16.38 percent and imports fell 12.08 percent.
Port Laredo ranked No. 4 for total trade among the nation’s roughly 450 airports, seaports and border crossings through July of 2020. During the same period of 2019 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; Chicago O’Hare International Airport; John F. Kennedy International Airport; Port Laredo and Port of Newark.
Through July 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, France and Malaysia, respectively.
Taking a closer look at its leading trade partners:
- Trade with No. 1 Mexico fell 34.36 percent to $87.93 billion.
Exports fell 36.87 percent to $35.54 billion. Imports fell 32.54 percent to $52.39 billion.
- Trade with No. 2 China fell 33.16 percent to $521.09 million.
Exports fell 25.33 percent to $701,103. Imports fell 33.17 percent to $520.39 million.
- Trade with No. 3 France rose 87.45 percent to $343.13 million.
Exports fell 76.61 percent to $12,786. Imports rose 87.5 percent to $343.12 million.
- Trade with No. 4 Japan fell 24.73 percent to $147.32 million.
Exports rose 43.81 percent to $165,846. Imports fell 24.77 percent to $147.15 million.
- Trade with No. 5 Malaysia fell 19.16 percent to $115.18 million.
Exports rose 173.48 percent to $252,463. Imports fell 19.28 percent to $114.93 million.
Port Laredo’s top five trading partners through July accounted for 99 percent of its trade with the world.
Port Laredo had trade surpluses with 42 countries and deficits with 91 through July. That compares with 40 surpluses and 102 deficits for the same period one year earlier. The top three surpluses through July of this year were with Costa Rica, $13.77 million; South Africa, $5.35 million; and Sweden, $5.28 million. The top three deficits through July of this year were with Mexico, $16.84 billion; China, $519.69 million; and France, $343.1 million.
Through July its top exports were Motor vehicle parts; Internal combustion engines; Gasoline, other fuels; Catalytic converters, air filters, oil filters, etc.; and Engine parts, in that order. Those accounted for 20.54 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 32.32 percent of all inbound shipments.
Looking more closely at Port Laredo’s exports:
- Motor vehicle parts fell 37.04 percent compared to last year to $4.31 billion.
- Internal combustion engines fell 39.81 percent compared to last year to $1.6 billion.
- Gasoline, other fuels fell 20.14 percent compared to last year to $1.51 billion.
- Catalytic converters, air filters, oil filters, etc. fell 33.33 percent compared to last year to $644.08 million.
- Engine parts fell 39.97 percent compared to last year to $636.57 million.
On the import side:
- Motor vehicle parts fell 24.76 percent compared to last year to $7.47 billion.
- Passenger vehicles fell 39.36 percent compared to last year to $5.09 billion.
- Computers fell 6.35 percent compared to last year to $2.94 billion.
- Cell phones, related equipment rose 9.23 percent compared to last year to $2.89 billion.
- Commercial vehicles fell 20.48 percent compared to last year to $2.79 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.