Autos from Mexico to US helped cross-border trade surge to $73B in May

Boosted by shipments of cars, computers, auto parts and commercial vehicles to the United States, Mexico was the top U.S. trade partner in May, at $73 billion, according to data from the Census Bureau.

It was the fifth consecutive month and 15th of the past 16 months Mexico has been No. 1 in trade with the U.S. The $73 billion trade total in May was a 6.3% increase from the same period in 2023.

Canada ranked No. 2 for trade with the U.S. in May at $66 billion, and China ranked third at $46.1 billion.

Mexico’s exports to the U.S. totaled $44 billion in May, a 6.6% year-over-year increase, while imports from the U.S. to Mexico increased 6% to $29 billion.

For the 14th straight month, Laredo, Texas, retained the No. 1 spot among the nation’s 450 international gateways for trade, according to Census Bureau data analyzed by WorldCity.

During May, Laredo recorded a 4.7% year-over-year increase in total commerce to $29.3 billion.

The Port of Los Angeles ranked No. 2 and reported $26.1 billion, while Chicago O’Hare ranked No. 3 at $23.4 billion.

Mexico accounted for $28.6 billion in trade at the Laredo port of entry in May, followed by China at No. 2 reporting $173 million and France at No. 3 with $87 million.

Source: freightwaves.com