Borderlands: Laredo stays nation’s No. 1 gateway for international trade

Laredo, Texas, stays the nation’s No. 1 gateway for international trade 

For the second straight month, Laredo, Texas, retained the No. 1 spot among the many nation’s 450 international gateways for trade.

During March, Laredo recorded a 12% year-over-year (y/y) increase in total commerce to $28.6 billion, in keeping with the most recent U.S. Census Bureau data analyzed by WorldCity.

Chicago O’Hare International Airport ranked No. 2 and reported $26.4 billion in trade, while John F. Kennedy International Airport in Recent York was No. 3 with $23.4 billion.

The Port of Los Angeles, which held the No. 1 spot for many of 2022, fell to No. 4 in March, accounting for $22.1 billion in trade.

Mexico also ranked as the USA’ top trading partner for the fourth consecutive month in March, with total trade increasing 4.5% y/y to $72 billion.

Canada ranked No. 2, as its total trade with the U.S. decreased 5% y/y to $69 billion in March. China ranked third with trade falling 26% y/y to $45 billion.

Exports from Laredo to the world increased 9% y/y to $10.9 billion and imports increased 14% y/y to $17.7 billion.

Auto parts ($2.3 billion), passenger vehicles ($1.1 billion) and heavy-duty trucks ($1.1 billion) were the highest three imports from Mexico to the U.S. through Laredo.

Fresh produce season in Mexico has been in full swing since early March, with Laredo accounting for $211 million in imports of strawberries and blueberries and $121 million in avocados in the course of the month.

The highest exports from the U.S. through Laredo were auto parts ($1.4 billion), gasoline ($334 million) and diesel engines ($284 million).

Business truck crossings in Laredo increased 5.5% y/y to 262,109 vehicles in March, while April recorded a 3.5% y/y increase to 230,534 tractor-trailers.

As of Friday, the Reefer Outbound Tender Volume Index (ROTVI.LRD) in Laredo was up about 2% week over week, helped by Mexican produce crossing the border, in keeping with FreightWaves SONAR. On a y/y basis, Laredo’s outbound reefer load volume is up 49%.

Rail cargo thefts up 29% during Q1 in Mexico

Mexico’s business rail sector saw a spike in cargo thefts in the course of the first quarter of 2023, recording 580 robbery incidents.

In line with Mexico’s rail transport regulatory agency, the northwestern state of Sinaloa recorded essentially the most cargo theft cases from January through March with 34 incidents. 

The state of Sonora ranked No. 2 with 31 cargo theft reports, followed by Jalisco with 27 incidents in the course of the first quarter.

Probably the most stolen commodities were food products, construction material, consumer goods and industrial materials. 

Taiwan auto parts supplier publicizes $1B expansion in Mexico

Taiwan-based auto electronics manufacturer Quanta Computer is investing $1 billion to expand its manufacturing operations within the Mexican of Monterrey.

The Taiwan-based manufacturer opened the Monterrey factory last 12 months, where it produces a pc that helps to regulate different functions of a vehicle.

Quanta has not specified where the $1 billion in funding might be used, but officials for the Mexican state of Nuevo Leon said the investment will expand Quanta’s existing operations in Monterrey, in keeping with Reuters.

Quanta Computer is a supplier to electric vehicle maker Tesla, which is constructing a $5 billion factory in Monterrey.

The expansion reportedly will create 2,500 jobs. The factory currently has a workforce of over 2,000 employees.

The corporate employs over 70,000 people worldwide, with operations in Asia, the U.S. and Europe.

Forza Steel to construct plant at Port of Brownsville

Forza Steel announced an investment of $60 million to construct a producing facility on the Port of Brownsville in South Texas.

The factory, which can create 150 jobs, will produce steel pipes and tubes for the automotive, construction and oil and gas industries.

The 650,000-square-foot facility is scheduled to open in July, in keeping with a news release.

The Port of Brownsville is positioned 277 miles south of San Antonio on the southernmost tip of Texas along the Gulf of Mexico. It’s the only deepwater seaport positioned along the border.

Forza Steel said it expects to import 260,000 metric tons of raw material annually from Mexico to the Brownsville facility to provide 240,000 tons of steel tubular products. The corporate is headquartered in Salinas Victoria, Mexico, about 165 miles south of Brownsville. 

Watch: TQL sues former worker for breaking non-compete agreement.