Overview: In January 2021 New Mexico exported $233M and imported $360M, resulting in a negative trade balance of $126M. Between January 2020 and January 2021 the exports of New Mexico have decreased by $-128M (-35.4%) from $361M to $233M, while imports decreased by $-36.2M (-9.15%) from $396M to $360M.
Trade: In January 2021, the top exports of New Mexico were Aircraft Parts ($27.2M), Integrated Circuits ($15.9M), Office Machine Parts ($12.3M), Insulated Wire ($11.7M), and Other Plastic Products ($8.22M). In January 2021 the top imports of New Mexico were Office Machine Parts ($73.3M), Commodities not elsewhere specified ($38M), Telephones ($33M), Blood, antisera, vaccines, toxins and cultures ($30.4M), and Radioactive Chemicals ($23.4M).
Destinations: In January 2021, New Mexico exported mostly to Mexico ($118M), Singapore ($23.2M), China ($13.2M), South Korea ($12.6M), and Canada ($11.3M), and imported mostly from China ($119M), Mexico ($62.6M), Canada ($44M), Switzerland ($31.2M), and Spain ($28.5M).
Growth: In January 2021, the decrease in New Mexico's year-by-year exports was explained primarily by an decrease in exports to Mexico ($-110M or -48.2%), China ($-44M or -76.9%), and Romania ($-9.93M or -74.9%), and product exports decrease in Office Machine Parts ($-103M or -89.3%), Integrated Circuits ($-38M or -70.5%), and Gas and Liquid Flow Measuring Instruments ($-13.3M or -93.4%). In January 2021, the decrease in New Mexico's year-by-year imports was explained primarily by an decrease in imports from Mexico ($-68.6M or -52.3%), China ($-25.7M or -17.7%), and Taiwan ($-7.02M or -46%), and product imports decrease in Medical Instruments ($-31.8M or -97.6%), Office Machine Parts ($-19.4M or -21%), and Other Small Iron Pipes ($-12.9M or -99.7%).