Manufacturing Output and Firms
Total Manufacturing Output ($billions, 2019)
$4.62
(Percent share of total gross state product)
4.39%
Manufacturing Firms in New Mexico (2017)
1,281
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
Manufacturing Employment (2020)
26,000
(Percent share of nonfarm employment)
3.31%
Average Annual Compensation (Manufacturing, 2019)
$59,523.28
(Nonfarm Businesses, 2019)
$42,322.40
Sources: U.S. Bureau of Economic Analysis and the U.S. Census Bureau
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Figure 3
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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, $2.44 billion in exports was with our free trade agreement (FTA) partners. This helps create jobs in the state, and 18.80% of its employment stemmed from exports in 2011. Small businesses comprised 84.00% percent of all exporters in New Mexico.
Manufacturing Exports
Manufactured Goods Exports ($billions, 2020)
$3.46
(Percent share of total goods exports)
93.82%
U.S. Jobs Supported by Goods Exports (2016)
13,868
Employment from Manufacturing Exports (Export share of manufacturing jobs, 2011)
18.80%
Small Business Share of Total Exporters (2015)
84.00%
Manufactured Goods to Free Trade Agreement Partners ($billions, 2020)
$2.44
(Percent of total exports, 2020)
70.53%
Mexico
59.09%
China
13.82%
South Korea
3.73%
Canada
3.38%
Singapore
2.33%
Sources: International Trade Administration, U.S. Census Bureau
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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.