Manufacturing Output and Firms
Total Manufacturing Output ($billions, 2018)
$4.05
(Percent share of total gross state product)
4.07%
Manufacturing Firms in New Mexico (2016)
1,310
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.
Employment and Compensation
Manufacturing Employment (2018)
27,000
(Percent share of nonfarm employment)
3.21%
Average Annual Compensation (Manufacturing, 2017)
$56,194.32
(Nonfarm Businesses, 2017)
$39,593.12
Sources: U.S. Bureau of Economic Analysis and the U.S. Census Bureau
Figure 1
[visualizer id=”689″ series=”nam-state-data-reports-visualizer-series” settings=”nam-state-data-reports-visualizer-settings” data=”nam-state-data-reports-visualizer-data”]
Figure 2
[visualizer id=”691″ series=”nam-state-data-reports-visualizer-series” settings=”nam-state-data-reports-visualizer-settings” data=”nam-state-data-reports-visualizer-data”]
Figure 3
[visualizer id=”693″ series=”nam-state-data-reports-visualizer-series” settings=”nam-state-data-reports-visualizer-settings” data=”nam-state-data-reports-visualizer-data”]
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, $1.70 billion in exports was with our free trade agreement (FTA) partners. This helps create jobs in the state, and 18.80% of its employment stemmed from exports in 2011. Small businesses comprised 84.00% percent of all exporters in New Mexico.
Manufacturing Exports
Manufactured Goods Exports ($billions, 2018)
$3.47
(Percent share of total goods exports)
94.95%
Growth in Manufactured Goods Exports (2010–2018)
144.32%
U.S. Jobs Supported by Goods Exports (2016)
13,868
Employment from Manufacturing Exports (Export share of manufacturing jobs, 2011)
18.80%
Small Business Share of Total Exporters (2015)
84.00%
Manufactured Goods to Free Trade Agreement Partners ($billions, 2018)
$1.70
(Percent of total exports, 2018)
49.07%
Total Manufactured Goods Exports to Canada and Mexico (NAFTA, 2018)
$1.45
Top Five Export Markets (Percent of total manufactured goods exports, 2018)
41.91%
Mexico
38.98%
China
31.11%
Japan
6.83%
South Korea
3.22%
Canada
2.93%
Sources: International Trade Administration, U.S. Census Bureau
Figure 4
[visualizer id=”699″ series=”nam-state-data-reports-visualizer-series” settings=”nam-state-data-reports-visualizer-settings” data=”nam-state-data-reports-visualizer-data”]
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.