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Overview This page contains the latest international trade data for Laredo, TX. In January 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 parts ($6.09B), Light petroleum distillates nes ($6.05B), Petroleum spirit for motor vehicles ($4.68B), Natural gas in gaseous state ($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), Others parts and accessories of bodies... ($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.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)Mexico$167B
Top Product (2023)Other Motor vehicle parts$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 parts ($6.09B), Light petroleum distillates nes ($6.05B), Petroleum spirit for motor vehicles ($4.68B), Natural gas in gaseous state ($3.58B), and Engines, diesel, for motor vehicles ($3B).

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Exports Dynamics

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)
Mexico $276M (2.07%)
Bahamas $25.5M (171%)
Nicaragua $9.99M (1.11k%)
Rapidly Declining Export Origins (Jan 2023 - Jan 2024)
Canada -$3M (-97.9%)
Sweden -$1.93M (-99.6%)
Panama -$1.47M (-87.4%)

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Yearly Imports

Color
Depth
Top Origin (2023)Mexico$256B

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), Others parts and accessories of bodies... ($7.26B), and Diesel Trucks < 5 tonnes ($5.89B).

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Imports Dynamics

Fastest Growing Import Origins (Jan 2023 - Jan 2024)
Mexico $769M (3.89%)
China $90.2M (35.1%)
France $26.9M (29.5%)
Rapidly Declining Import Origins (Jan 2023 - Jan 2024)
Philippines -$29.1M (-88.7%)
Taiwan -$15.4M (-32.1%)
United Kingdom -$10.4M (-52%)

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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 Additive manufacturing machines (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), Flat panel displays (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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