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%).