Borderlands: Mexico top US trade partner in November, Laredo No. 1 gateway

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico top US trade partner in November, Laredo No. 1 gateway; PSC Group acquires rail terminal in South Texas; automotive firm inaugurates $55 million expansion in Mexico; and CBP seizes $5M worth of cocaine at Texas border crossing.

Mexico top US trade partner in November, Laredo No. 1 gateway

Nearshoring continues to be a boost for Mexico trade as the country retained its ranking as the United States’ top trade partner in November, with two-way commerce totaling $65.8 billion.

It’s the 10th time in the past 11 months that Mexico ranked No. 1, according to the most recent data from the U.S. Census Bureau.

In November, Canada ranked No. 2 at $65.2 billion, while China was third at $49.4 billion. Rounding out the top five U.S. trade partners in November were Japan at No. 4 with $19.6 billion and Germany with $19 billion.

From January through November, Mexico’s trade with the U.S. rose 2.79% year over year (y/y) to $738.4 billion.

Port Laredo, Texas, was the No. 1-ranked U.S. trade gateway with Mexico, totaling $26.7 billion in November, according to a WorldCity analysis of Census Bureau data. It was the 10th straight month the Laredo border crossing was the country’s top-ranked international commercial trade port.

The Port of Los Angeles ranked No. 2 with $25 billion and Chicago O’Hare International Airport was No. 3, reporting $24 billion in trade during November. John F. Kennedy International Airport was the fourth-ranked trade gateway in November at $18 billion, and Port Houston was No. 5 at $17.7 billion.

The top three imports from Mexico to the U.S. through Laredo were auto parts ($2 billion), passenger vehicles ($1.3 billion) and commercial vehicles ($988 million), according to WorldCity.

The top exports from the U.S. to Mexico through Laredo were auto parts ($1.1 billion), gasoline ($313 million) and passenger vehicles ($232 million).

During November, Port Laredo processed 247,343 commercial trucks across its two international bridges, a 7.5% y/y increase compared to the same period in 2022.

PSC Group acquires rail terminal in South Texas

PSC Group has acquired the Bayport Rail Terminal (BRT), a 115-acre rail, truck and container facility in Pasadena, Texas.

BRT offers loaded and empty rail car staging and switching, transloading, as well as on-site railcar repairs and maintenance operations. The facility has storage capacity for 850 rail cars and is serviced by Union Pacific’s Bayport Loop rail line.

Source: freightwaves.com