That dollar amount results from a formidable 119.3 % increase from $5.47 billion four years earlier in 2021.
Year over year, the overall value of New Mexico’s exports accelerated by 142.5% compared to $4.95 billion during 2023.
New Mexico ranks among America’s 20 smallest exporters by state far behind the largest front-runners including Texas, California, New York State, Louisiana and Illinois.
The value of New Mexico’s exports equals 0.6% of the United States’ overall exported product sales for 2024, up from 0.2% for the prior year.
New Mexico’s exported products represent 8.5% of the state’s total economic output or nominal Gross Domestic Product in 2024 ($140.5 billion).
Given New Mexico’s population of 2.13 million people, its total US$12 billion in 2024 exports translates to roughly $5,650 for every resident in the Land of Enchantment state. That dollar metric surpasses the average $2,300 per capita one year earlier in 2023.
New Mexico’s unemployment rate was 4.1% at the end of September 2025, down from a 4.3% jobless rate at September 2024 per YCharts.
New Mexico’s Top 10 Exports
The following export products represent the highest dollar value in New Mexico global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from New Mexico.
Figures were derived from product distinctions at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Computer parts, accessories: US$4.3 billion (35.8% of total New Mexican exports)
- Integrated circuit processors, controllers: $3.4 billion (28%)
- Solid-state semiconductor storage devices: $961.9 million (8%)
- Machines to transmit/receive voice, image, data: $319.8 million (2.7%)
- Liquefied petroleum gases: $151.2 million (1.3%)
- Cheese including cheddar, colby: $149.2 million (1.2%)
- Static converters, computer power supplies: $122.2 million (1%)
- Miscellaneous computer storage devices: $119.8 million (1%)
- Photovoltaic semiconductor devices: $114.4 million (1%)
- Civilian aircraft full or aircraft engines or other parts: $112.3 million (0.9%)
New Mexico’s top 10 exports exceeded four-fifths (80.9%) of the overall value of the state’s global shipments.
Electronic integrated circuit processors and controllers represent the fastest grower among New Mexico’s top 10 export categories, propelled by a 2,116% upturn from 2023 to 2024.
Coming in second place with a 1,069% increase were exported photovoltaic semiconductor devices ahead of New Mexican exports miscellaneous computer storage devices (up 477.6%), solid-state semiconductor storage devices (up 271.9%) then computer parts or accessories (up 163.9%).
The lone decliner was civilian aircraft both fully assembled or aircraft parts including engines via a -76.6% year-over-year retreat.
More Key Facts about New Mexico’s International Trade
New Mexico earned an overall $2.87 billion trade surplus exporting and importing products during 2024, reversing a -$990.9 million deficit for 2023.
Another way of saying surplus or deficit is positive or negative net exports. In a nutshell, the term “net exports” quantifies the amount by which foreign spending on a state’s goods or services exceeds or lags that same state’s spending on foreign goods or services.
Below are New Mexico’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2024.
- Integrated circuit processors, controllers: US$2 billion (21.5% of total New Mexican imports)
- Computer parts, accessories: $1.7 billion (18.9%)
- Medical, dental, veterinarian instruments: $924.7 million (10.1%)
- Natural uranium: $402.3 million (4.4%)
- Machines for making semiconductor devices: $251.2 million (2.8%)
- Apparatus to transmit/receive voice, image, data: $177.9 million (1.9%)
- Semi-conductor measurement devices: $136 million (1.5%)
- Static converters, computer power supplies: $114.4 million (1.3%)
- Solid-state semiconductor storage devices: $111.5 million (1.2%)
- Live cattle excluding purebred breeding: $95.7 million (1%)
After years of incurring deficits, New Mexico has turned up positive net exports in the international trade of computer parts and accessories as well as integrated circuit processors and controllers. In turn, these cashflows indicate New Mexico’s emerging competitive advantages under those product categories.
New Mexico’s Major Trade Partners
The following list shows the top 10 customers that purchased 95.9% worth of the total value of products exported from New Mexico during 2024.
- Mexico: US$6.9 billion (57.9% of total New Mexican exports)
- mainland China: $2 billion (16.4%)
- Malaysia: $1.5 billion (12.6%)
- Taiwan: $255.8 million (2.1%)
- Vietnam: $215.1 million (1.8%)
- South Korea: $201.1 million (1.7%)
- Canada: $184.3 million (1.5%)
- Poland: $97 million (0.8%)
- Japan: $69.5 million (0.6%)
- United Kingdom: $62.6 million (0.5%)
New Mexico’s top trade partners in North America–Mexico and Canada–bought almost three-fifths (59.4%) of the overall value of exported goods from the state nicknamed the Land of Enchantment.
Over a third (35.2%) worth of New Mexico’s total exports were delivered to its major trade partners in Asia (mainland China, Malaysia, Taiwan, Vietnam, South Korea and Japan).
New Mexican Export Companies
Not one of New Mexico-based corporations rank among Fortune 1000 Companies, a list that showcases America’s largest businesses.
According to Zippia, below are examples of relatively large companies based in New Mexico.
- ARA (international research, engineering)
- Delta Group Electronics (electronics)
- Speridian Technologies (global info technology solutions)
- U.S. Cotton (health/beauty cotton, cotton products)
Shown within brackets for each company is a summary of the products or services which each business sells, some of which are international trade related.
New Mexico’s capital is Santa Fe, a city uniquely nicknamed “The City Different”.
See also Oklahoma’s Top 10 Exports, New Jersey’s Top 10 Exports, Missouri’s Top 10 Exports, Pennsylvania’s Top 10 Exports and Mississippi’s Top 10 Exports
Research Sources:
Department of Numbers, New Mexico GDP (dollars shown in real terms). Accessed on January 20, 2026
FlagPictures.org, Flags of US States. Accessed on January 20, 2026
Forbes, 2021 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on January 20, 2026
GeoLounge, Fortune 1000 Companies List for 2021 , Fortune 1000 by State and Place. Accessed on January 20, 2026
International Trade Centre, Trade Map. Accessed on January 20, 2026
Investopedia, Net Exports Definition. Accessed on January 20, 2026
State Symbols USA, State Nicknames. Accessed on January 20, 2026
Statista, Real gross domestic product of New Mexico. Accessed on January 20, 2026
United States Census Bureau, QuickFacts: New Mexico. Accessed on January 20, 2026
USA Trade Online, Official Source of Trade Statistics. Accessed on January 20, 2026
Wikipedia, Category:Companies based in New Mexico. Accessed on January 20, 2026
Wikipedia, List of U.S. states and territories by GDP. Accessed on January 20, 2026
Wikipedia, New Mexico. Accessed on January 20, 2026
YCharts, Regional and State Employment and Unemployment Report. Accessed on January 20, 2026
Zippia, These are the 100 largest companies in New Mexico. Accessed on January 20, 2026