Home Trade and Investment State Trade Fact Sheets 2006 New Mexico

New Mexico

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• Canada–U.S. trade supported 5.2 million U.S. jobs
• Total Canada–U.S. merchandise trade: $461 billion
• Canada–New Mexico trade supported 30,000 U.S. jobs
• Canadians made more than 66,300 visits to New Mexico, spending $25 million
• New Mexico residents made 25,500 visits to Canada, spending $14 million

In its latest rankings, Forbes magazine named Albuquerque, New Mexico as the top metro area in the United States for business and careers. Given the wide range of opportunities throughout New Mexico, the State seeks out international relationships in order to maximize these possibilities. Trade between Canada and New Mexico increased from $271 million in 2004 to $328 million in 2005, a 21% increase in one year and a 51% increase since 2003.

New Mexico exported $21 million worth of metals to Canada in 2005, mostly in the category of precious metals and alloys. New Mexico imported $58 million worth of forest products, in keeping with their construction boom. As well, they imported $46 million in transportation products from Canada, including $22 million worth of railway trains and rolling stock for the new commuter rail service being established between Albuquerque and Santa Fe.

Almost 2,500 jobs in New Mexico are supported by Canadian-owned companies operating in the state. Toronto-based Onex Corporation (services, manufacturing, and technology industries) is the largest Canadian employer in New Mexico having created 700 jobs. With 43 locations, Alimentation Couche-Tard Inc, owner of the Circle K chain of gas stations, has the largest reach within the New Mexican community.

Last year 25,500 New Mexicans traveled to Canada and spent approximately $14 million. In the other direction, more than 65,000 Canadians visited New Mexico and spent $25 million during their stay in 2005, a 32% increase over the previous year.

New Mexico's Leading Exports to Canada
2005, in millions of U.S. dollars

• Precious metals & alloys ($14)
• Safety & sanitation equipment ($7)
• Fertilizers ($6)
• Valves ($4)
• Engines & turbines ($4)
• Telephone & telegraph equipment ($2)
• Crude petroleum ($2)
• Motor vehicle parts* ($2)
• Nickel & alloys ($1)
• Nuts, except oil nuts ($1)

*not including engines

New Mexico's Leading Imports from Canada
2005, in millions of U.S. dollars

• Softwood lumber ($36)
• Railway trains & rolling stock ($22)
• Electricity ($12)
• Metal fabricated basic products ($10)
• Aircraft engines & parts ($7)
• Containers ($7)
• Nickel & alloys ($6)
• Trucks ($4)
• Mining machinery ($4)
• Heating & refrigeration equipment ($4)

Canada-New Mexico Success Stories

Pratt &Whitney; Canada will supply its PW600 series jet engines for the very light jets being built by Eclipse Aviation Corp (Albuquerque). Early indications are that these engines will be significantly quieter than the majority of piston aircraft currently flying in and out of airports.

Bombardier Transportation has supplied rolling stock for the new Rail Runner Express, an inter-urban high speed commuter train service between Albuquerque and Santa Fe. The rolling stock includes Bombardier's distinctive bi-level rail cars.

Strathmore Minerals Corp (Vancouver) is undertaking uranium exploration and mine development at two locations in New Mexico.

New Mexico-Canada Facts at a Glance:

• State jobs supported by Canada–U.S. trade: 30,000

July 2006

For more information on Canada's trade with New Mexico, please contact:

Canadian Consulate
2415 East Camelback Road Suite 700
Phoenix, AZ 85016
Phone: (602) 508-357  •  Fax: (602) 508-3574
www.phoenix.gc.ca

Canadian Consulate
1840 E. River Road, Suite 200
Tucson, AZ 85718
Phone: (520) 622-364  •  Fax: (520) 622-8127

Sources: Merchandise trade and tourism figures are from Statistics Canada, converted at the rate of US$1.00=C$1.2116. Merchandise trade data is customs-based for the year 2005. Job numbers are based on 2001 data from a 2003 study by Trade Partnership Worldwide commissioned by the Canadian Embassy. Canada's export ranking is from the World Institute for Strategic Economic Research (WISER). All figures are in U.S. dollars. Figures may not add up due to rounding.

• Read the 2005 state trade figures
• Read the 2004 state trade figures
• Read the 2003 state trade figures
• Read the 2002 state trade figures