New Mexico

State in United States

2019
Economic
Complexity
: 0.3, Rank 28 of 53

Jan 2021
Trade
Exports | Imports
: $233M | $360M, 46 of 54 | 44 of 54

Jan 2021
Country
Destination | Origin
: Mexico | China , $118M  | $119M

Jan 2021
Product
Exports | Imports
: Aircraft Parts | Office Machine Parts , $27.2M  | $73.3M

Overview: This page contains the latest international trade data for New Mexico, including export and import data.

Exports: In 2020, United States' New Mexico exported $3.69B, making it the 43rd largest exporter out of the 53 exporters in United States. In 2020 the top exports of New Mexico were Parts and accessories of data processing... ($904M), Electronic integrated circuits: processors and controllers,... ($479M), Instruments, appliances for medical, etc science,... ($171M), Petroleum gases & gaseous hydrocarbons nes,... ($81M), and Semiconductor media: solid-state non-volatile storage devices,... ($74.4M).

Imports: In 2020, United States' New Mexico imported $4.59B, making it the 42nd largest importer out of the 53 importers in United States. In 2020 top imports of New Mexico were Parts and accessories of data processing... ($953M), Commodities not specified according to kind ($416M), Instruments, appliances for medical, etc science,... ($411M), Blood, human or animal, antisera, other... ($276M), and Communication apparatus (excluding telephone sets or... ($132M).

Economic Complexity: In 2019, the highest complexity exports of New Mexico according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.2), Other Measuring Instruments (1.86), Iron Fasteners (1.81), Oscilloscopes (1.77), and Blank Audio Media (1.74). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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Flow
Value
Reference Period

This section shows the differences between New Mexico's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit United States's country profile.

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Yearly Exports

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Top Destination (2020): Mexico, $2.2B

Top Product (2020): Parts and accessories of data processing..., $904M

In 2020 the top export destinations of New Mexico were Mexico ($2.2B), China ($487M), South Korea ($134M), Canada ($132M), and Singapore ($80.8M).

In 2020 the top exports of New Mexico were Parts and accessories of data processing... ($904M), Electronic integrated circuits: processors and controllers,... ($479M), Instruments, appliances for medical, etc science,... ($171M), Petroleum gases & gaseous hydrocarbons nes,... ($81M), and Semiconductor media: solid-state non-volatile storage devices,... ($74.4M).

Exports Dynamics

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Fastest Growing Exports Destination (Jan 2020 - Jan 2021)

Rapidly Declining Export Origins (Jan 2020 - Jan 2021)

Yearly Imports

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Depth

Top Origin (2020): China, $1.49B

Top Import (2020): Parts and accessories of data processing..., $953M

In 2020 the top import origins of New Mexico were China ($1.49B), Mexico ($1.38B), Panama ($300M), Switzerland ($286M), and Canada ($232M).

In 2020 the top imports of New Mexico were Parts and accessories of data processing... ($953M), Commodities not specified according to kind ($416M), Instruments, appliances for medical, etc science,... ($411M), Blood, human or animal, antisera, other... ($276M), and Communication apparatus (excluding telephone sets or... ($132M).

Imports Dynamics

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Fastest Growing Import Origins (Jan 2020 - Jan 2021)

Rapidly Declining Import Origins (Jan 2020 - Jan 2021)

Economic Complexity

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Economic Complexity of United States

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New Mexico ranks 28th out of the 53 states and territories in United States according to ECI.

Estimated using exports data.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were New Mexico already has a comparative advantage, are led by Developed Exposed Photographic Material (0.12), Thermostats (0.11), Laboratory Glassware (0.11), Tin Bars (0.11), and Optical Fibers (0.11).

Most Complex Products by PCI

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The highest complexity exports of New Mexico according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.2), Other Measuring Instruments (1.86), Iron Fasteners (1.81), Oscilloscopes (1.77), and Blank Audio Media (1.74). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Explosive Ammunition (167), Navigation Equipment (34.9), Nickel Powder (26.5), Office Machine Parts (18.7), and Disc Chemicals for Electronics (16.5).

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since New Mexico is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of  New Mexico. These are products that tend to be co-exported with the products that New Mexico exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.