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District in Texas, State of United States

2023
Economic
Complexity 0.46Rank 12 of 40
Sep 2024
Trade
Exports | Imports $14.1B | $25.2B3 of 43 | 4 of 42
Sep 2024
Country
Destination | Origin Mexico | Mexico $14B  | $23.8B

About

Overview This page contains the latest international trade data for Laredo, TX. In September 2024 Laredo, TX was the number 2 in total exports and the number 4 in total imports in United States.

Exports In 2023, United States' Laredo, Tx exported $160B, making it the 2nd largest exporter out of the 43 exporters in United States. In 2023 the top exports of Laredo, Tx were Other Motor Vehicle Components ($6.09B), Light petroleum distillates nes ($6.05B), Petroleum spirit for motor vehicles ($4.68B), Gaseous Natural Gas ($3.58B), and Engines, diesel, for motor vehicles ($3B).

Imports In 2023, United States' Laredo, Tx imported $252B, making it the 4th largest importer out of the 43 importers in United States. In 2023 top imports of Laredo, Tx were Diesel road tractors for semi-trailers ($11.2B), Medium Sized Cars ($10B), Spark ignition Trucks < 5... ($8.11B), Other Motor Vehicle Body Parts &... ($7.26B), and Diesel Trucks < 5 tonnes ($5.89B).

Economic Complexity In 2023, the highest complexity exports of Laredo, Tx according to the product complexity index (PCI) are Precious Metal Compounds (2.07), Metalworking Transfer Machines (2.04), Iron Fasteners (1.79), Metal Pickling Preparations (1.79), Interchangeable Tool Parts (1.76), Lubricating Products (1.68), Metal Finishing Machines (1.64), Fork-Lifts (1.63), Flat-Rolled Stainless Steel (1.61), and Polyamides (1.6). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

September, 2024

About

Overview In September 2024 Laredo, TX exported $14.1B and imported $25.2B, resulting in a negative trade balance of $11.1B. Between September 2023 and September 2024 the exports of Laredo, TX have increased by $98.5M (0.7%) from $14B to $14.1B, while imports increased by $2.77B (12.4%) from $22.4B to $25.2B.

Trade In September 2024, the top exports of Laredo, TX were Motor vehicles; parts and accessories (8701... ($1.22B), Refined Petroleum ($773M), Electric Batteries ($459M), Cars ($398M), and Petroleum Gas ($332M). In September 2024 the top imports of Laredo, TX were Motor vehicles; parts and accessories (8701... ($2.64B), Cars ($2.2B), Computers ($1.9B), Delivery Trucks ($1.51B), and Telephones ($961M).

Destinations In September 2024, Laredo, TX exported mostly to Mexico ($14B), Switzerland ($21.2M), Bahamas ($20.3M), Guatemala ($17.5M), and Nicaragua ($11.9M), and imported mostly from Mexico ($23.8B), China ($423M), Japan ($126M), France ($100M), and Malaysia ($91.3M).

Growth In September 2024, the increase in Laredo, TX's year-by-year exports was explained primarily by an increase in exports to Mexico ($44.2M or 0.32%), Switzerland ($21.1M or 23.4k%), and Bahamas ($13.1M or 180%), and product exports increase in Electric Batteries ($387M or 545%), Corn ($70.5M or 33.3%), and Delivery Trucks ($68.9M or 96.4%). In September 2024, the increase in Laredo, TX's year-by-year imports was explained primarily by an increase in imports from Mexico ($2.38B or 11.1%), China ($124M or 41.6%), and Malaysia ($62.4M or 215%), and product imports increase in Computers ($1.36B or 250%), Telephones ($413M or 75.3%), and Cars ($275M or 14.3%).

Latest Data

Time Scale
Flow
Color
Depth
EXPORT GROWTH (September 2023 - September 2024)$98.5M(0.7%)
IMPORT GROWTH (September 2023 - September 2024)$2.77B(12.4%)

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.

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Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)Mexico$167B
Top Product (2023)Other Motor Vehicle Components$6.09B

In 2023 the top export destinations of Laredo, Tx were Mexico ($167B), Guatemala ($225M), Colombia ($165M), Netherlands ($147M), and Bahamas ($134M).

In 2023 the top exports of Laredo, Tx were Other Motor Vehicle Components ($6.09B), Light petroleum distillates nes ($6.05B), Petroleum spirit for motor vehicles ($4.68B), Gaseous Natural Gas ($3.58B), and Engines, diesel, for motor vehicles ($3B).

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Exports Dynamics

Fastest Growing Exports Destination (Sep 2023 - Sep 2024)
Mexico $44.2M (0.32%)
Switzerland $21.1M (23.4k%)
Bahamas $13.1M (180%)
Rapidly Declining Export Origins (Sep 2023 - Sep 2024)
Jamaica -$1.36M (-100%)
India -$746k (-99.4%)
Canada -$511k (-98.2%)

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Yearly Imports

Color
Depth
Top Origin (2023)Mexico$256B
Top Import (2023)Diesel road tractors for semi-trailers$11.2B

In 2023 the top import origins of Laredo, Tx were Mexico ($256B), China ($3.62B), France ($1.31B), Japan ($1.05B), and Thailand ($752M).

In 2023 the top imports of Laredo, Tx were Diesel road tractors for semi-trailers ($11.2B), Medium Sized Cars ($10B), Spark ignition Trucks < 5... ($8.11B), Other Motor Vehicle Body Parts &... ($7.26B), and Diesel Trucks < 5 tonnes ($5.89B).

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Imports Dynamics

Fastest Growing Import Origins (Sep 2023 - Sep 2024)
Mexico $2.38B (11.1%)
China $124M (41.6%)
Malaysia $62.4M (215%)
Rapidly Declining Import Origins (Sep 2023 - Sep 2024)
France -$30.7M (-23.4%)
South Korea -$11M (-16.7%)
Estonia -$5.65M (-34.7%)

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Economic Complexity

Economic Complexity of Laredo, Tx

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Economic Complexity (2023)0.46

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

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Export Opportunities by Relatedness

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 (0.45), Photo Lab Equipment (0.43), Photographic Chemicals (0.43), Non-optical Microscopes (0.42), and Boat Propellers (0.42).

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Most Complex Products by PCI

The highest complexity exports of Laredo, Tx according to the product complexity index (PCI) are Precious Metal Compounds (2.07), Metalworking Transfer Machines (2.04), Iron Fasteners (1.79), Metal Pickling Preparations (1.79), Interchangeable Tool Parts (1.76), Lubricating Products (1.68), Metal Finishing Machines (1.64), Fork-Lifts (1.63), Flat-Rolled Stainless Steel (1.61), and Polyamides (1.6). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Antiknock (12.47), Sound Recordings (10.13), Aluminium Pipes (10.11), Other Sugars (10.07), and Locomotive Parts (9.27).

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Product Space

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.

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Relatedness Space

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.

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Diversification Frontier

Depth
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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. Bubble size corresponds to exports value by year 2020.

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