No. 1 Port in the Nation in 2024
The Port of Laredo is the number 1 port in the nation among more than 450 airports, seaports, and border crossings with $339 billion in total trade with the world in 2024 according to the U.S. Census Bureau data analyzed by WorldCity.
In 2024, Port Laredo’s trade up 5.98 percent
In 2024, trade at Port Laredo was valued at $339.03 billion, an increase of 5.98 percent through December.
Exports totaled $128.26 billion, up 4.12 percent while imports were valued at $210.77 billion, up 7.14 percent.
The deficit at Port Laredo was $82.52 billion.
Year-to-date, Port Laredo’s trade up 6.88 percent
On a year-to-date basis, trade at Port Laredo was valued at $55.74 billion, an increase of 6.88 percent through February.
Exports totaled $21.03 billion, up 1.79 percent while imports were valued at $34.72 billion, up 10.21 percent.
The deficit at Port Laredo was $13.69 billion.
Port Laredo’s trade with top trade partner Mexico has increased 6.70 percent YTD
Port Laredo’s top five trade partners accounted for 98.64 percent of its total trade through February. By way of comparison, the United States’ top five trade partners accounted for 47.56 percent.
Taking a closer look at its leading trade partners:
Trade with No. 1 Mexico rose 6.7 percent to $54.31 billion.
Exports rose 1.8 percent to $20.99 billion. Imports rose 10.04 percent to $33.31 billion.
Trade with No. 2 China fell 12.87 percent to $255.95 million.
Exports rose 57.07 percent to $47,734. Imports fell 12.88 percent to $255.91 million.
Trade with No. 3 Japan rose 75.76 percent to $152.81 million.
Exports rose 22.39 percent to $1.93 million. Imports rose 76.74 percent to $150.88 million.
Trade with No. 4 France fell 34.59 percent to $140.43 million.
There were no exports. Imports fell 34.59 percent to $140.43 million.
Trade with No. 5 Nicaragua fell 1.82 percent to $128.15 million.
Exports rose 7.75 percent to $24.1 million. Imports fell 3.8 percent to $104.05 million.
Port Laredo had trade surpluses with 12 countries and deficits with 90 through February. That compares with 13 surpluses and 92 deficits for the same period one year earlier. The top three surpluses through February of this year were with Malta, $376,928; Hong Kong, $305,819; and Panama $297,705.The top three deficits through February of this year were with Mexico, $12.32 billion; China, $255.86 million; and Japan, $148.95 million.
At this time a year ago, the top five trade partners were Mexico, China, France, Nicaragua and Japan.
By tonnage, the top five trade partners year-to-date are Mexico, China, Japan, France and Nicaragua.
At this time a year ago, the top five by tonnage were Mexico, China, France, Nicaragua and Japan.
Exports Market Share
The most valuable Port Laredo export, Motor vehicle parts, has decreased 5.02 percent YTD
Port Laredo’s top five exports accounted for 21.19 percent of all its exports through February. By way of comparison, the United States’ top five exports accounted for 24.31 percent.
Here’s a closer look at the top five, by value:
- Motor vehicle parts fell 5.02 percent compared to last year to $2.42 billion.
- Gasoline, other fuels rose 14.02 percent compared to last year to $666.59 million.
- Electric storage batteries rose 51.67 percent compared to last year to $469.28 million.
- Diesel engines fell 13.22 percent compared to last year to $452.44 million.
- Civilian aircraft, parts rose 65.68 percent compared to last year to $450.73 million.
At this time a year ago, the top five exports were Motor vehicle parts; Gasoline, other fuels; Electric storage batteries; Diesel engines; and Passenger vehicles.
By tonnage the top five exports year-to-date are Ball bearings, roller bearings, parts; Misc. leather articles; TVs, computer monitors; Bird eggs, not in shell; and Wood pulp from mechanical, chemical processes.
At this time a year ago, the top five by tonnage were Cereal groats, meal, pellets; Lathes for removing metal; Children’s picture, drawing or coloring books; Olive oil; and Power supplies, transformers.
Imports Market Share
The most valuable Port Laredo import, Motor vehicle parts, has decreased 4.75 percent YTD
Port Laredo’s top five imports accounted for 36 percent of all its imports through February. By way of comparison, the United States’ top five imports accounted for 26.32 percent.
Here’s a closer look at the top five, by value:
- Motor vehicle parts fell 4.75 percent compared to last year to $4.03 billion.
- Computers rose 152.81 percent compared to last year to $2.9 billion.
- Passenger vehicles rose 45.71 percent compared to last year to $2.81 billion.
- Cell phones, related equipment rose 62.54 percent compared to last year to $1.4 billion.
- Commercial vehicles fell 16.82 percent compared to last year to $1.36 billion.
At this time a year ago, the top five imports were Motor vehicle parts; Passenger vehicles; Computers; Commercial vehicles; and Tractors.
By tonnage the top five imports year-to-date are Rapeseed or colza seeds; Printed circuits; Synthetic monofilament; Prepared or preserved meat; and Tanks, armored fighting vehicles, parts.
At this time a year ago, the top five by tonnage were Cereal groats, meal, pellets; Lathes for removing metal; Children’s picture, drawing or coloring books; Olive oil; and Power supplies, transformers.
Port Market Share
By value, Port Laredo was responsible for 5.95 percent of U.S. trade through February, ranking No. 3 among all ports and No. 1 among all border crossings.
Last year Port Laredo, posted total trade with the world of $339.03 billion. The Port’s deficit was $82.52 billion. Exports totaled $128.26 billion and imports came to $210.77 billion.
