New Mexico imports/exports

New Mexico Business Journal, Feb, 1994

DESPITE YEARS OF lack of interest in exporting New Mexico goods to foreign markets, resulting in a performance ranking of 47th in the nation, the state apparently is beginning to move up the ladder with emphasis on exporting.

New Mexico exports reached $363 million in 1992, according to the latest statistics, according to Roberto Castillo, director of the trade division for the New Mexico Department of Economic Development.

The '92 dollar mark represented a 13.8 percent increase over the previous year and moved New Mexico from the 47th ranking to 45th, only a slight nudge upward, but upward nonetheless.

New Mexico exported products to 100 countries in '92, compared to 87 in 1991 with orders ranging from $3 million to $74 million.

Japan overtook Korea as New Mexico's leading importer with a dramatic 30 percent increase from $56.4 million to $73.7 million primarily in non-electric products. Total U.S. two-way trade, comprised of $448.2 billion of exports plus $532.5 billion of imports, reached $980.7 billion for a net gain of $71 billion or a 7.8 percent increase over 1991.

New Mexico exported products from 32 major industry categories versus 29 in 1991, with 30 categories ranging in volume from $12 million to $19 million.

New Mexico's export sales of $363 million converted into a total of 9,071 export-related jobs for an increase of 1,099 additional jobs over 1991.

The top 10 major industry exports from New Mexico include non-electric machinery, electronic products, chemicals and allied products, transportation equipment and agricultural products.

Others include medical instruments; stone, clay or glass; lumber, and miscellaneous manufacturing products.

Roberto Castillo, director of the trade division for the New Mexico Department of Economic Development, notes that the state significantly increased its trade show-mission role in 1992 to Mexico, Europe and Asia.

Maquila missions became more effective and outreach matchmaking was taken to Hobbs, Artesia, Carlsbad, Lovington, Las Cruces and Silver City.

Meanwhile trade representatives in Taiwan and Japan became more active on New Mexico's behalf.