New Mexico Manufacturing Facts
Manufacturers in New Mexico account for 4.07% of the total output in the state, employing 3.21% of the workforce. Total output from manufacturing was $4.05 billion in 2018. In addition, there were an average of 27,000 manufacturing employees in New Mexico in 2018, with an average annual compensation of $56,194.32 in 2017.
New Mexico Export Facts
Manufacturers help to drive New Mexico’s economy, with $3.47 billion in manufactured goods exports in 2018. That same year, $1.70 billion in exports was with our free trade agreement (FTA) partners. This helps create jobs in the state, and 18.80% of its employment stemmed from exports in 2011. Small businesses comprised 84.00% percent of all exporters in New Mexico.
Additional Trade Facts
- The 20 U.S. FTA partners purchased nearly 49 percent ($679.46 billion) of U.S. manufactured goods exports in 2018 – even though these countries represent only six percent of the world’s population and 10 percent of GDP.
- FTA countries: Australia, Bahrain, Canada, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, Oman, Panama, Peru, Singapore and South Korea.