City of Laredo
Laredo International Airport
Laredo’s trade with the world rose to $198,121,876,927 through the first 11 months of 2011, according to a WorldCity analysis of the latest U.S. Census Bureau data. That’s 16.82 percent increases the Customs district’s total trade during the same time period last year. The district’s exports increased 17.90 percent while imports rose 15.98 percent.
Through November the district’s top trade partners were No. 1 Mexico, No. 2 China, No. 3 Malaysia, No. 4 Italy and No. 5 Japan. Through the first 11 months of the last year, top five spots were held by Mexico, China, Malaysia, Japan and Canada, respectively.
Taking a closer look at the leading trade partners with Laredo:
- No.1 Mexico’s trade rose 17.25 percent to $189,855,949,633.
Exports rose 17.66 percent to $87,031,800,587. Imports rose 16.91 percent to $102,824,149,046.
- No.2 China’s trade fell -11.14 percent to $2,488,184,380.
Exports fell -34.62 percent to $15,547,018. Imports fell -10.94 percent to $2,472,637,362.
- No.3 Malaysia’s trade rose 11.46 percent to $776,136,733.
Exports fell -91.98 percent to $750,803. Imports rose 12.87 percent to $775,385,930.
- No.4 Italy’s trade rose 193.17 percent to $592,194,312.
Exports fell -14.75 percent to $67,534. Imports rose 193.26 percent to $592,126,778.
- No.5 Japan’s trade fell -3.58 percent to $588,481,749.
Exports rose 495.54 percent to $30,530,347. Imports fell -7.81 percent to $557,951,402.
Laredo’s top five trading partners through November accounted for 98.07 percent of its trade with the world. The U.S. average for the same period was 51.65 percent.
Laredo had trade surpluses with 53 countries and deficits with 101 through November. That compares with 59 surpluses and 98 deficits for the same period one year earlier. The top three surpluses through November of this year were with Panama, $177,678,478; Guatemala, $88,325,455; and Netherlands Antilles, $43,845,315. The top three deficits were with Mexico ($15,792,348,459), China ($2,457,090,344) and Malaysia ($774,635,127).
Meanwhile, total U.S. trade increased to $3,376,543,451,474, up 16.18 percent compared to the same period last year. The nation’s exports climbed 6.65 percent to $193,171,426,449 as imports rose 9.54 percent to $277,164,337,456. The nation’s top five trade districts so far this year, by value, are New York City, Los Angeles, Houston, Detroit and New Orleans. The overall trade deficit was $-669,172,252,732, up compared to the same period of last year when the deficit was $-585,179,341,725.
Laredo’s top five exports by value through November were motor vehicle parts; landline, cellular phone equipment; motor vehicles for transporting people; oil, not crude; and polymers of ethylene, in that order. Those accounted for 21.45 percent of its total outbound trade. The value of the district’s top five imports, motor vehicle parts, motor vehicles for transporting goods, landline, cellular phone equipment and motor vehicles for transporting peopletractors and , accounted for 31.70 percent of all inbound shipments.
Looking more closely at Laredo exports:
- Motor vehicle parts rose 28.06 percent compared to last year to $9,789,560,172.
- Landline, cellular phone equipment rose 10.37 percent compared to last year to $3,145,537,187.
- Motor vehicles for transporting people rose 11.95 percent compared to last year to $2,241,430,362.
- Oil, not crude rose 43.90 percent compared to last year to $2,164,044,407.
- Polymers of ethylene rose 8.74 percent compared to last year to $1,458,832,248.
On the import side:
- Motor vehicle parts rose 18.62 percent compared to last year to $10,261,333,323.
- Motor vehicles for transporting goods rose 12.51 percent compared to last year to $8,054,022,992.
- Landline, cellular phone equipment fell -10.96 percent compared to last year to $7,201,568,908.
- Motor vehicles for transporting people rose 12.43 percent compared to last year to $5,760,684,951.
- Tractors rose 40.28 percent compared to last year to $3,744,312,027.
Last year the Laredo district posted total trade with the world of $185,387,411,306. The district’s deficit was $-22,844,573,930. At year end, the region’s top five partners were Mexico, China, Malaysia, Japan and Canada. Exports totaled $81,271,418,688 and imports came to $104,115,992,618.