Today, Governor Susana Martinez announced that New Mexico led the nation in export growth in 2012, increasing exports by 42 percent over 2011, according to figures released by the International Trade Administration (ITA). New Mexico was one of only 11 states to achieve double-digit export growth and led the next-highest growing state by six percentage points.
New Mexico has steadily increased its export numbers over the last two years. In 2010, the state was 38th in the country, moving up to 3rd in 2011 and 2nd in mid-year 2012 before closing out the year at the top of the list. The numbers reflect more and more New Mexico companies are selling internationally, enabling them to grow their businesses. According to official U.S. Department of Commerce estimates, every $1 billion in exports creates or supports up to 6,250 jobs.
"New Mexico has great potential to compete globally and I'm proud that we have taken advantage of our numerous opportunities to increase exports to foreign countries," said Governor Martinez. "We know that there are more uncertain economic times on the horizon, with federal budget cuts poised to have a measurable impact on our state. However, these numbers are a step in the right direction as we work to diversify our economy, expand our private sector, and make New Mexico competitive for years to come."
The New Mexico Economic Development Department also recently announced that New Mexico's merchandise exports to Mexico are at an all-time high at $617,609,684 -- 33 percent higher than 2011 exports which stood at $464,454,999. And with increased focus on the New Mexico Border Region, the Santa Teresa and Columbus Ports of Entry have experienced all-time record commercial vehicle crossings in 2012 with 11 and 18 percent increases respectively.
"This administration has worked to capitalize on New Mexico's great trade potential and respond to the need to compete globally," Economic Development Department Secretary Jon Barela added. "We have focused on connecting New Mexico products with markets around the world - from improving infrastructure at the Borderplex to implementing pro-business policies in Santa Fe to organizing international trade missions. We are making New Mexico a better place for exporters to do business."
This legislative session, Governor Martinez and Secretary Barela have joined with a bipartisan group of legislators to push for an elective single sales factor that will continue to assist New Mexico exporters and recruit new businesses to the state.
"At least 25 other states have adopted a single sales factor which allows companies, especially manufacturers, to expand and grow their existing business and create well-paying jobs without being penalized for their success," Governor Martinez said. "We need to do the same for New Mexico workers and job creators."
According to the ITA, New Mexico saw the highest increase in exports compared to 2011 with Brazil, Israel, Chile, Saudi Arabia, and France.