Trade in El Paso increased by 4% in February

EL PASO, TX – Annualized monthly trade through the El Paso Business District increased 4.0% to $128.3 billion in February, according to figures presented by the Federal Reserve Bank of Dallas.

The federal bank indicated that El Paso’s economic expansion continued during March, as although employment contracted, the unemployment rate declined. Meanwhile, trade volumes increased and cross-border traffic continued to recover.

According to the Dallas Fed report, the increase in trade in the border city was driven by import growth of 6.0% and export growth of 1.2%.

On a year-over-year basis, trade was up 6.5%, thanks to a 2.7% increase in imports and a 12.1% increase in exports. The figures, show that February 2022 imports totaled $74.2 billion, while exports accounted for $54.1 billion.

Dallas Fed indicated that most of the trade through the El Paso Trade District came through the Ysleta port of entry with 57%, while Santa Teresa comprised 22% of the total volumes, while the El Paso port accounted for 20% of the operations.

Furthermore, it was reported that the U.S. monthly index of industrial production (IP) increased from 103.6 in February to 104.6 in March and was up 5.5% from a year ago.

Mexico’s industrial production index declined from 101.3 in January to 100.2 in February, but was 2.5% higher than a year ago.

Source: MEXICONOW Staff