Laredo, TxDistrict in Texas, State of United States
2019 Economic Complexity: 0.44, Rank 12 of 39
Jan 2021 Trade Exports | Imports: $10.4B | $16.3B, 4 of 43 | 4 of 42
Jan 2021 Country Destination | Origin: Mexico | Mexico , $10.3B | $15.6B
Jan 2021 Product Exports | Imports: Vehicle Parts | Vehicle Parts , $907M | $1.78B
Overview: This page contains the latest international trade data for Laredo, TX, including export and import data.
Exports: In 2020, United States' Laredo, Tx exported $109B, making it the 3rd largest exporter out of the 43 exporters in United States. In 2020 the top exports of Laredo, Tx were Light petroleum distillates nes ($3.68B), Natural gas in gaseous state ($3.43B), Engines, diesel, for motor vehicles ($3.39B), Petroleum spirit for motor vehicles ($2.22B), and Motor vehicle parts nes ($1.92B).
Imports: In 2020, United States' Laredo, Tx imported $182B, making it the 4th largest importer out of the 43 importers in United States. In 2020 top imports of Laredo, Tx were Medium Sized Cars ($8.04B), Spark ignition engine trucks weighing <... ($7.17B), Road tractors for semi-trailers (truck tractors) ($5.49B), Communication apparatus (excluding telephone sets or... ($4.95B), and Diesel powered trucks weighing < 5... ($4.83B).
Economic Complexity: In 2019, the highest complexity exports of Laredo, Tx according to the product complexity index (PCI) are Metalworking Transfer Machines (2.32), Photographic Film (1.96), Metal Lathes (1.88), Other Measuring Instruments (1.86), and Silicone (1.83). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Overview: In January 2021 Laredo, TX exported $10.4B and imported $16.3B, resulting in a negative trade balance of $5.95B. Between January 2020 and January 2021 the exports of Laredo, TX have decreased by $-45.6M (-0.44%) from $10.4B to $10.4B, while imports increased by $1B (6.53%) from $15.3B to $16.3B.
Trade: In January 2021, the top exports of Laredo, TX were Crude Petroleum ($4.06B), Refined Petroleum ($3.39B), Petroleum Gas ($2.86B), Commodities not elsewhere specified ($2.51B), and Soybeans ($2.1B). In January 2021 the top imports of Laredo, TX were Computers ($3.02B), Cars ($2.77B), Cars ($2.56B), Telephones ($2.28B), and Cars ($1.82B).
Destinations: In January 2021, Laredo, TX exported mostly to Mexico ($10.3B), China ($9.77M), Bahamas ($8.73M), Panama ($7.5M), and Guatemala ($6.06M), and imported mostly from Mexico ($15.6B), China ($240M), Japan ($53.6M), South Korea ($52.6M), and France ($50.3M).
Growth: In January 2021, the decrease in Laredo, TX's year-by-year exports was explained primarily by an decrease in exports to Canada ($-604M or -22.6%), Netherlands ($-456M or -44.1%), and Mexico ($-453M or -5.04%), and product exports decrease in Crude Petroleum ($-1.53B or -27.3%), Refined Petroleum ($-882M or -53.2%), and Refined Petroleum ($-668M or -16.5%). In January 2021, the increase in Laredo, TX's year-by-year imports was explained primarily by an increase in imports from China ($1.85B or 59%), China ($1.79B or 20.1%), and Switzerland ($851M or 229%), and product imports increase in Computers ($1.32B or 78.1%), Other Precious Metal Products ($851M or 2.19k%), and Computers ($792M or 126%).
EXPORT GROWTH (January 2020 - January 2021): $-45.6M, (-0.44%)
IMPORT GROWTH (January 2020 - January 2021): $1B, (6.53%)
This section shows exports and imports data at subnational level for Laredo, TX. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Laredo, TX over time.
This section shows the differences between Laredo, TX's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.
Top Destination (2020): Mexico, $109B
Top Product (2020): Light petroleum distillates nes, $3.68B
In 2020 the top export destinations of Laredo, Tx were Mexico ($109B), Guatemala ($88.5M), Bahamas ($80.7M), Netherlands ($77.3M), and Sweden ($61.4M).
In 2020 the top exports of Laredo, Tx were Light petroleum distillates nes ($3.68B), Natural gas in gaseous state ($3.43B), Engines, diesel, for motor vehicles ($3.39B), Petroleum spirit for motor vehicles ($2.22B), and Motor vehicle parts nes ($1.92B).
Top Origin (2020): Mexico, $173B
Top Import (2020): Medium Sized Cars, $8.04B
In 2020 the top import origins of Laredo, Tx were Mexico ($173B), China ($2.79B), Japan ($648M), France ($639M), and Malaysia ($490M).
In 2020 the top imports of Laredo, Tx were Medium Sized Cars ($8.04B), Spark ignition engine trucks weighing <... ($7.17B), Road tractors for semi-trailers (truck tractors) ($5.49B), Communication apparatus (excluding telephone sets or... ($4.95B), and Diesel powered trucks weighing < 5... ($4.83B).
Laredo, Tx ranks 12th out of the 43 districts in United States according to ECI.
Estimated using exports data.
The top export opportunities according to the relatedness level, without considering those products were Laredo, Tx already has a comparative advantage, are led by Developed Exposed Photographic Material (0.48), Halides (0.47), Photo Lab Equipment (0.45), Laboratory Glassware (0.44), and Glass Working Machines (0.44).
The highest complexity exports of Laredo, Tx according to the product complexity index (PCI) are Metalworking Transfer Machines (2.32), Photographic Film (1.96), Metal Lathes (1.88), Other Measuring Instruments (1.86), and Silicone (1.83). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The most specialized products according to the RCA index are led by Sorghum (13), Combustion Engines (12.9), Tantalum (11.4), Aluminium Pipes (11), and Corrugated Paper (10.5).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Laredo, Tx is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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