Laredo is the Busiest US Port for International Trade Now

Laredo is the Busiest US Port for International Trade Now

Borderlands recap transportation and commerce news between the US and Mexico weekly. Forza Steel is building a facility in the Port of Brownsville. Port Laredo remains the country’s main international commerce gateway. Rail freight robberies in Mexico rose by 29% in Q1. The Port of Laredo will handle $299.4 billion in international commerce in 2022. It will be the third busiest port in the United States.

Laredo’s Growing Importance as a Global Trade Hub

Among the United States’ 450 foreign commercial gateways, Laredo, Texas remained on top in March, with overall commerce increasing by 12% yearly to $28.6 billion. John F. Kennedy International Airport in New York came in at number three, followed by Chicago’s O’Hare International Airport. In March, the Los Angeles port took in just $22.1 billion in cargo logistics, dropping it to fourth place. Total commerce between the two countries rose 4.5% year-over-year to $72 billion in March, maintaining Mexico’s position as the United States’ top trading partner for the fourth consecutive month. Second place went to Canada, whose trade with the United States fell 5% year-over-year to $69 billion.

China ranks third due to a drop in trade of 26% year-over-year to $45 billion. March had a 5.5% y/y rise to 262,109 commercial truck crossings in Laredo, while April saw a 3.5% y/y increase to 230,534 tractor-trailers. Compared to the previous week, the Reefer Outbound Tender Volume Index (ROTVI.LRD) in Laredo increased by nearly 2%.

Factors Contributing to Laredo’s Success as a Trade Hub

  • Cargo thefts via rail increased by 29% in Mexico during q1.
  • Taiwan auto parts suppliers are expanding in Mexico with a $1 billion investment.
  • Forza Steel will build a plant at Port of Brownsville.