The port of entry in Laredo, Texas, regained the No. 1 spot among the nation’s 450 international gateways for trade in February, the first time since 2020. It recorded $24.6 billion in two-way trade, with Mexico’s commerce accounting for $23.9 billion. Chicago O’Hare International Airport ranked No. 2 ($22.8 billion), and the Port of Los Angeles was No. 3 ($17.2 billion). Exports to Mexico increased 12% yearly (y/y) to $9.7 billion, and imports from the country increased 15% y/y to $15 billion. Mexico also remained the U.S.’s top trading partner for the third consecutive month in February, with total trade increasing 8% y/y to $60.6 billion.
Canada ranked #2 in total trade with the U.S. ($59B, +5% y/y), and China #3 ($51.3B, -22% y/y). Gerardo Alanis Barrios, CEO of Laredo-based Cold Chain Solutions, said business is good. The produce season was strong this year, but imports/exports of fresh/frozen vegetables are expected to slow until fall. “This season was one for the books,” said Alanis Barrios. “Laredo saw a handful of cold storage plants take root in the city last year; as the produce season comes to a halt until late September, we anticipate volumes to cool down a bit.”
Ermilo Richer III, exec. dir. of Laredo-based customs broker Richer, said freight volumes were slower in the first three months of 2023 but started to “pick up last week.” Richer offers customs brokerage, transportation, logistics, and warehousing solutions on both sides of the border. “The last 18 months were swift, with high volumes, so we’re good with this slowdown as long as it picks up again,” Richer said.
Source: https://www.freightwaves.com/news/laredo-texas-again-top-us-gateway-for-international-trade
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