New Mexico

New Mexico Exports and Foreign Investment

In 2024, New Mexico exported a record $12.0 billion of goods to the world. In 2022, exports from New Mexico supported an estimated 14 thousand jobs (latest data available).

Exports from New Mexico and Jobs

• New Mexico was the 32nd largest state exporter of goods in 2024.
• In 2024, New Mexico goods exports were $12.0 billion, an increase of 216 percent ($8.2 billion) from its export level in 2014.
• Goods exports accounted for 3.8 percent of New Mexico GDP in 2023 (latest data available).
• New Mexico goods exports in 2022 supported an estimated 14 thousand jobs (latest data available). Nationally, jobs supported by goods exports pay up to an estimated 18 percent above the national average.

Manufacturing Exports from New Mexico and Jobs

• In 2024, New Mexico exported $11.6 billion of manufactured products.
• New Mexico exports of manufactured products supported an estimated 13 thousand jobs in 2022 (latest data available).
• The state's largest manufacturing export category is computer & electronic products, which accounted for $9.7 billion of New Mexico's total goods exports in 2024.
• Other top manufacturing exports are electrical equipment, appliances & components ($357 million), chemicals ($276 million), food & kindred products ($274 million), and machinery, except electrical ($266 million).

Exports Sustain New Mexico Businesses many of which are SMEs

• A total of 1,332 companies exported from New Mexico locations in 2022 (latest data available). Of those, 1,115 (84 percent) were small and medium sized enterprises with fewer than 500 employees.
• Small and medium-sized firms generated 66.1 percent of New Mexico's total exports of goods in 2022.

New Mexico Depends on World Markets

• The state’s largest market was Mexico. New Mexico exported $7.0 billion in goods to Mexico in 2024, representing 58 percent of the state’s total goods exports.
• Mexico was followed by China ($2.0 billion), Malaysia ($1.5 billion), Taiwan ($255 million), and Vietnam ($215 million).
• New Mexico’s exports to major world areas included:

 

• 62 percent of New Mexico’s goods exports ($7.4 billion) in 2024 went to current FTA partners.  

Agriculture in New Mexico depends on Exports

New Mexico is the country’s 35th largest agricultural exporting state, shipping $948 million in domestic agricultural exports abroad in 2022 (latest data available according to the U.S. Dept. of Agriculture).

Top Agricultural exports were:
 

	2022 Value	2022 State Rank
dairy products	$278 million	10
tree nuts	$196 million	3
beef and veal	$157 million	16
other plant products	$92 million	40
cotton	$62 million	17

International Investment Creates Jobs in New Mexico

• In 2022 (latest data available), foreign-controlled companies employed 20,100 New Mexico workers. Major sources of foreign investment in New Mexico included Canada, the United Kingdom and Germany.
• Foreign investment in New Mexico was responsible for 3.0 percent of the state's total private-industry employment in 2022.

New Mexico’s Major Metropolitan Areas Benefit from Exporting
In 2023 (latest data available), the following metropolitan areas in New Mexico recorded goods exports: Albuquerque ($789.4 million), Farmington ($22.7 million), Las Cruces ($3.4 billion), and Santa Fe ($29.8 million).