Mexico Maintains Status as Top U.S. Trade Partner in July, Fueled by Auto and Computer Goods
In July, the Port of Los Angeles surpassed Laredo, Texas, to become the leading U.S. trade gateway among the nation’s 450 airports, seaports, and border crossings, based on analysis of Census Bureau data by WorldCity. This marks the first time in 15 months that a trade gateway other than Laredo has held the top spot.
Trade activity at the Port of Los Angeles surged by 24% year-over-year in July, reaching $30 billion. Laredo followed closely in second place with $28.3 billion, while Chicago O’Hare International Airport secured the third position at $24.4 billion.
Laredo’s trade in July also showed growth, increasing by 9% compared to the same month in 2023, while trade at Chicago O’Hare rose by 16% year over year.
The Port of Los Angeles has benefitted from a rise in container imports from China over the past several months. According to the SONAR Inbound Ocean TEUs Volume Index (IOTI.CHNUSA), the volume of imports from China to the U.S. increased in August compared to the same period in 2022 and 2023.
Mexico continued to lead as the top U.S. trade partner in July with $70.7 billion in trade, reflecting an 8% year-over-year increase. This achievement marks the seventh consecutive month and the 17th month out of the last 18 that Mexico has been the top trade partner with the U.S.
Canada held the second position in U.S. trade in July with $63.5 billion, while China ranked third with $51.5 billion. The leading exports from Mexico to the U.S. during the month included computers ($4 billion), passenger vehicles ($3.96 billion), and commercial vehicles ($3.1 billion), according to Census Bureau data. The top imports from the U.S. to Mexico included gasoline and other fuels ($2.93 billion), auto parts ($1.49 billion), and computer parts ($1.3 billion).
