Texas A&M International University's Texas Center for Border Economic & Enterprise Development (TCBEED) has recently finished compiling the January-September 1998 trade data for the Port of Laredo from the U.S. Department of Commerce.
For the first nine months of 1998, exports reached $21,251,720,812 for Laredo. This amount is an increase of15.59% when compared to the first nine months of 1997. Loaded truck exports through the Port of Laredo were up 21.7% for Januart-September 1998 when compared to the first three quarters of 1997. However, loaded rail exports through the Port of Laredo were down 3.6% for the first nine months of 1998.
Imports through the Port of Laredo for the first three quarters totaled $20,000,160,328. This was an increase of 9.87% when compared to the first nine months of 1997. The number of loaded trucks which crossed north from January-September 1998 through the Port of Laredo has increased 15.0% when compared to the same period in 1997. However, loaded rail imports were down 2.3% for the first nine months of 1998 when compared to1997.
The latest figures indicate a continuous rise in commercial activity in Laredo, said Duane W. Burdorf, director of the TCBEED.
"In reviewing the data, it appears that trade through the Port of Laredo is still increasing at a phenomenal rate. In 1997, almost $1 billion dollars of commercial trade per week crossed through the Port of Laredo. For 1998, it is expected to be over $1 billion dollars per week. Trade by truck showed strong increases as well. For the entire year of 1998, import data showed that loaded trucks through the Port of Laredo increased by over 63,000 trucks from last year. Over 6.1 million standard tons were imported through the Port of Laredo by truck in 1997 and over 2.7 million tons imported by rail according to estimates by United States Department of Transportation. It will be interesting to see the increase in cargo weight when those numbers are available," Burdorf said.
Burdorf stated that complete 1998 information should be available in the first part of March 1999. Anyone needing more trade information and analysis can contact Burdorf A&M International's TCBEED at (956) 326-2546 or by e-mail at email@example.com.