Manufacturing Output and Firms
Total Manufacturing Output ($billions, 2021)
$4.26
(Percent share of total gross state product)
4.25%
Manufacturing Firms in New Mexico (2019)
1,282
New Mexico Manufacturing Facts
Manufacturers in New Mexico account for 4.25% of the total output in the state, employing 3.58% of the workforce. Total output from manufacturing was $4.26 billion in 2021. In addition, there were an average of 30,000 manufacturing employees in New Mexico in December 2021, with an average annual compensation of $63,623.30 in 2021.
Employment and Compensation
Manufacturing Employment (December 2021)
30,000
(Percent share of nonfarm employment)
3.58%
Average Annual Compensation (Manufacturing, 2021)
$63,623.30
(Nonfarm Businesses, 2021)
$53,009.55
Sources: U.S. Bureau of Economic Analysis and the U.S. Census Bureau
Figure 1
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Figure 2
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Figure 3
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New Mexico Export Facts
Manufacturers help to drive the New Mexico economy, with $5.12 billion in manufactured goods exports in 2021.
Manufacturing Exports
Manufactured Goods Exports ($billions, 2021)
$5.12
Top 5 Export Markets (total percentage 2021)
80.83%
Mexico
44.06%
China
28.27%
Panama
3.06%
Singapore
2.86%
Canada
2.58%
Sources: International Trade Administration, U.S. Census Bureau
Figure 4
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Additional Trade Facts
- The 20 U.S. FTA partners purchased 49.38% ($690.92 billion) of U.S. manufactured goods exports in 2021 – 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.