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Booming Santa Teresa spurs New Mexico to record year in exports

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Led by the boom in Santa Teresa, the state of New Mexico “had a record year for exports in 2021,” said New Mexico International Business Accelerator (NMIBA) Executive Director Jerry Pacheco.

The state’s exports to the world were 46 percent higher in December 2021 than December 2020, according to an NMIBA report citing statistics from the U.S. Census Bureau.

The state had almost $4.5 billion in exports in 2021, Pacheco said, compared to almost $3.7 billion in 2020, almost $4.7 billion in 2019, $3.9 billion in 2018 and almost $3.7 billion in 2017.

“Santa Teresa has boomed during the pandemic and never had to recover,” said Pacheco, who is also president of the Border Industrial Association. “This is evidenced by the strong export performance. The recruitment of new companies that export to Mexico accounts for the lion’s share of exports.  These companies are primarily located in Santa Teresa,” he said.

Pacheco said the Russian invasion of Ukraine that began in late February is “developing and it is too early to speculate” on its economic impact on New Mexico exports. However, Pacheco said he expects the export trend to continue.

“Virtually every new company that we recruit has a trade relationship with Mexico,” Pacheco said. “Therefore, New Mexico exports to our southern neighbor will continue to increase.”

New Mexico’s exports to the Republic of Mexico totaled nearly $2.5 billion in 2021, compared to just under $2.2 billion in 2020, almost $2.4 billion in 2019, $1.5 billion in 2018 and almost $1.7 billion in 2017.

The state’s exports to Mexico were 13 percent higher in December 2021 than December 2020, the NMIBA report showed.

New Mexico’s exports to China totaled almost $1.4 billion in 2021, compared to almost $485 million in 2020, just over $800 million in 2019, about $1.25 billion in 2018 and just over $1 billion in 2017.

In its fourth quarter report for 2021, the Federal Reserve Bank of Dallas reported that “total trade at the Santa Teresa Port of Entry rose 3.5 percent (in October) above September to $30.2 billion,” NMIBA research specialist Joshua Orozco said in a January 2022 column for the NMIBA website.

NMIBA was established in 2003, Pacheco said, and is New Mexico’s only statewide international trade counseling program.

Contact NMIBA at info@nmiba.com. Visit www.nmiba.com.


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