Laredo, Tx

District 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.

Comparison in Time

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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.

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Yearly Exports

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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).

Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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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).

Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of United States

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Laredo, Tx ranks 12th out of the 43 districts in United States according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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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).

Most Complex Products by PCI

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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.

Most Specialized Products by RCA Index

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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.

Relatedness Space

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This network shows the products most related to the production structure of  Laredo, Tx. These are products that tend to be co-exported with the products that Laredo, Tx exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.