Mexico remains the top US trading partner ahead of Canada No. 2

Mexico was the United States’ top trading partner for the second straight month in September, according to the latest data from the US Census Bureau.

Mexico’s total trade with the US increased by 23% (y/y) to US$67.4 billion compared to the same period in 2021, with imports from Mexico accounting for US$39.5 billion.

Computers ($3.6 billion), automobiles ($3.3 billion), and auto parts ($2.8 billion) were the top three imports from Mexico into, according to Census Bureau data analyzed by World City the USA. The top US exports to Mexico were gasoline (US$3.5 billion), auto parts (US$1.51 billion), and liquefied natural gas (US$1.49 billion).

Canada was #2 as its total trade with the US rose 22% year-on-year to $66.5 billion in September compared to the same period last year. China ranked third with $61.1 billion.

The US-Mexico port of entry in Laredo, Texas, was ranked second among the country’s 450 airports, seaports and border crossings in September. It is the second month in a row that Port Laredo has finished second, having previously finished third for the first eight months of 2022.

Port Laredo’s total trade with the world rose 25% year over year to $26.1 billion in September.

Chicago O’Hare International Airport was ranked the #1 US gateway in September with trade volume of $30.8 billion. The Port of Los Angeles fell to #3 for the month with $25.1 billion in cross-border trade.

In August, the Port of Los Angeles ranked #1 and O’Hare ranked #3.

Port Laredo’s top three imports for September included automotive parts ($1.99 billion), passenger cars ($1.36 billion) and heavy trucks ($999 million). Automotive parts ($1.1 billion), diesel engines ($403 million), and gasoline ($400 million) were the port’s top three exports.

Commercial truck crossings in Laredo increased 10% to 237,896 vehicles in September and 9.4% to 242,619 vehicles in October. In the first nine months of 2022, Laredo handled 2.1 million truck crossings, an 11% increase compared to the same period last year.

The Laredo freight market was down 4.8% week-on-week in outbound freight volume on Tuesday, according to FreightWaves’ sonar platform, after trading surged in October.

Outgoing bidding volumes in the Laredo, Texas (OTVI.LRD) market have declined slightly week-on-week after showing an upward trend in the first week of November. To learn more about FreightWave’s SONAR, click here.

Click here to see more FreightWaves articles by Noi Mahoney.

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