Truck Crossings Decline 22% At Port Laredo

175

The World Trade and Colombia Solidarity bridges in Laredo, Texas, saw 41,100 fewer commercial truck crossings in April compared with April 2019, according to the city of Laredo.

Laredo’s bridge revenue for April was $3.6 million, down 36.3% from $5.6 million in April 2019.

Semi truck highway sleeper 18 wheeler sun rise turnpike double

Commercial truck crossings totaled 148,447 vehicles in April, compared with 189,598 during the same period last year, a 21.7% decline. 

The decline was caused by Mexico’s closure of all nonessential businesses on March 30 to slow the spread of the coronavirus. This included automakers, electronics, steel and textile factories, aeronautics, and beer producers.

Many factories across Mexico began to slowly reopen on Monday.

Laredo’s outbound tender volume (OTVI.LRD) is up 66% since May 25, signaling market conditions are improving for carriers, according to FreightWaves’ SONAR platform.

Top exports that cross through Laredo into Mexico include motor vehicle parts, vehicle engines and auto parts, and gasoline.

During April, Mexico’s exports to the U.S. also decreased by 41%, according to data from Mexico’s National Institute of Statistics and Geography (INEGI). 

Exports from Mexico to the U.S. totaled $23.4 billion in April, the lowest amount since 2010, and the largest percentage decline since March 1986’s 42% drop, according to INEGI.

Some of Port Laredo’s top imports from Mexico include motor vehicle parts, passenger vehicles, commercial vehicles, tractors, and computers.

Source: FreightWaves

The Mazatlan Post