The top five manufacturing sectors in the state are petroleum and coal, computer and electronic products, food, beverage and tobacco products, nonmetallic metal products, and chemicals. Aerospace products and parts manufacturing saw the most job growth in 2020.
What are 3 major industries in New Mexico?
Mining, gas and oil extraction, and quarrying are the largest contributors to the growth of real GDP in New Mexico.
What is New Mexico’s manufacturing?
Manufacturers in New Mexico account for 4.39% of the total output in the state, employing 3.31% of the workforce.
Figure 2.
| x | Manufacturing Sector |
|---|---|
| Petroleum and coal products | $1,292.1 |
| Computer and electronic products | $995 |
| Food, beverage and tobacco products | $704.4 |
| Nonmetallic mineral products | $281.3 |
What is New Mexico’s largest industry?
As of 2019, government and related services was the largest industry, accounting for about 23% of the GDP, which was 1.7% lower compared to the decade before. Finance, insurance, real estate, leasing, and rental jointly account for about 17%.
What are Mexico’s top 5 industries?
Mexico has the ninth-largest economy in the world. Its main industries are food and beverages, tobacco, chemicals, iron and steel, petroleum, clothing, motor vehicles, consumer durables, and tourism. It is a major exporter of silver, fruits, vegetables, coffee, cotton, oil and oil products.
What is the largest employer in the state of NM?
Federal Government
LARGEST EMPLOYERS IN NEW MEXICO
| Rank | Organization | Employees |
|---|---|---|
| 1 | Federal Government (see breakdown below) | 21766 |
| 2 | State of New Mexico (see breakdown below) | 18359 |
| 3 | Wal-Mart | 14022 |
| 4 | Sandia National Laboratories | 12206 |
What products is New Mexico known for?
Major crops include hay, nursery stock, pecans, and chile peppers. Hay and sorghum top the list of major dryland crops. Farmers also produce onions, potatoes, and dairy products. New Mexico specialty crops include piñon nuts, pinto beans, and chiles.
What is New Mexico’s biggest export?
The state’s largest manufacturing export category is computer & electronic products, which accounted for $2.0 billion of New Mexico’s total goods exports in 2018.
What does the state of New Mexico produce?
New Mexico farms are large with the average size ringing in at 1,749 acres. The state’s hardworking farmers and ranchers grow and raise important commodities including beef, milk, hay, pecans, corn, wheat, cotton, sorghum, peanuts, potatoes, and more.
What is New Mexico’s biggest import?
Imports In 2021, United States’ New Mexico imported $6.03B, making it the 43rd largest importer out of the 53 importers in United States. In 2021 top imports of New Mexico were Parts and accessories of data processing… ($1.36B), Instruments, appliances for medical, etc science,…
Why is New Mexico such a poor state?
The list, according to Wallin, include economic inequality, high rates of working poor, high unemployment rates, lack of funding for early childhood education, and lack of funding for higher education. And those are just a few of the underlying issues, Wallin said.
What are the top 3 major industries in Mexico?
However, three industries are largely responsible for Mexico’s growth in manufacturing: automotive, aerospace, and medical devices. Both foreign direct investment in these industries and the Mexican government’s response have created an environment in which almost any manufacturing industry can thrive.
What are Mexico’s top 4 industries?
Tobacco, aerospace, petroleum, and mining among others are some of Mexico’s biggest industries. They all play a significant part in the economy of the country.
What is Mexico known for manufacturing?
Mexico’s manufacturing industries, especially in aerospace, automotive, electronics, and medical devices, are known not just for the lower costs, but the quality of production as well.
What is main business in New Mexico?
Tourism, military, and the oil and gas industry are the major industries in New Mexico. They provide most of the jobs and account for a large amount of the government spending in the state.
What companies are moving to New Mexico?
Netflix, NBC Universal, SCEYE, Prent, NTx, LaSen, Kairos Power, Faneuil and Ganymede Games are just a few of the 30 companies investing in the state since 2019. New Mexico has also recently seen success in bringing in international companies to the state.
What are the major industries in Albuquerque?
They are: film and digital media, smart city technologies, space technology, directed energy, and bioscience. For each of these sectors, Albuquerque already has the intellectual capital, R&D history, technological capacity, and workforce necessary to drive sustainable long-term growth and future investment.
Is New Mexico’s economy good?
New Mexico is a comparatively poor state, ranking among the lowest in the country in per capita income. About one-half of its economy is based on the service sector, while much of the remainder is centred on extractive industries (mining and oil production).
What is the most common job in New Mexico?
Retail salesperson is the most frequent job in Albuquerque, with 14,640 people in that position in 2014. Join the Albuquerque Business First to unlock even more insights! Food service is the second-most-common job with 9,940 people in 2014, and then customer service with 9,380 people in 2014.
What are the natural resources of New Mexico?
Most of New Mexico’s mineral production comes from coal, copper, and potash. Other commodities produced in the state include a variety of industrial minerals (including stone and aggregate), sulfuric acid, molybdenum, gold, uranium, and silver.
What are some fun facts about New Mexico?
Here’s 16 facts about New Mexico that you’d never guess.
- New Mexico is wine country.
- Taos Pueblo has been inhabited for over a thousand years.
- New Mexico has more PhDs per capita than any other state.
- Santa Fe is the nation’s highest state capital.
- You can see five different states from the top of Capulin Volcano.