Economy of New Mexico
| Statistics | |
|---|---|
| GDP | $94.2 billion |
GDP per capita | $39,811 (based on estimated 2017 population of 2,088,070) |
Population below poverty line | 17.1% |
| 0.453 | |
Labor force | 969,872 (September 2023) |
| Unemployment | 3.6% (September 2023) |
| External | |
Export goods | ADP machine parts (24.5%), processors and controllers (13.0%), medical equipment (4.6%) |
Main export partners |
|
| Public finances | |
| Revenues | $4,413.988 million |
| Expenses | $6,080 million |
Oil and gas production, tourism, and federal government spending are important drivers of New Mexico's economy. The state government has an elaborate system of tax credits and technical assistance to promote job growth and business investment, especially in new technologies.
In 2017 New Mexico's gross domestic product was $94.2 billion.
In 2017 the per capita personal income was $39,811 (ranked 48th in the nation).
In 2008 the percentage of persons below the poverty level was 17.1%.