2021 New Mexico Manufacturing Facts
New Mexico Manufacturing Facts
Manufacturers in New Mexico account for 4.39% of the total output in the state, employing 3.31% of the workforce. Total output from manufacturing was $4.62 billion in 2019. In addition, there were an average of 26,000 manufacturing employees in New Mexico in 2020, with an average annual compensation of $59,523.28 in 2019.
Employment and Compensation
Sources: U.S. Bureau of Economic Analysis and the U.S. Census Bureau
New Mexico Export Facts
Manufacturers help to drive New Mexico’s economy, with $3.46 billion in manufactured goods exports in 2020. That same year, $2.44 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.
Sources: International Trade Administration, U.S. Census Bureau
Additional Trade Facts
- The 20 U.S. FTA partners purchased 48.3% ($659.49 billion) of U.S. manufactured goods exports in 2019 – 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.