• Canada–U.S. trade supported 7.1 million U.S. jobs
• Total Canada–U.S. merchandise trade: $535 billion
• 44,500 New Mexico jobs are supported by Canada–U.S. trade
• Canadians made more than 60,500 visits to New Mexico, spending $24 million
• New Mexico residents made 33,900 visits to Canada, spending $26 million

A Close Relationship

New Mexico and Canada enjoy a mutually beneficial relationship as bilateral trade flows climbed to $475 million in 2007, an increase of 35% from the previous year. The state supplied its northern NAFTA partner with $166 million in merchandise goods and imported $309 million worth during the same period. Canada remained one of the state’s top four export markets and purchased almost 10% of New Mexico’s foreign-bound goods.

Partners in flight

New Mexico and Canada share an integrated market in the manufacture and sale of transportation products. In support of the state’s burgeoning aviation industry, New Mexico looked to Canada’s 400+ aerospace companies for a wide range of aircraft components and parts, purchasing $51 million worth. In return, the state supplied its northern NAFTA partner with $21 million in transportation goods, consisting primarily of $17 million in motor vehicle parts, except engines and complete automobiles. Transportation represents a new growth sector for the state as bilateral sales jumped 196% from the previous year to $95 million

An energy partnership

The vast majority of New Mexico–Canada energy trade flowed in a northward direction in 2007, benefitting the state with a trade surplus valued at $29 million. New Mexico supplied its energy-rich partner with $33 million worth, 20% of its total exports. Crude petroleum, valued at $15 million accounted for the state’s second largest export commodity. In contrast, New Mexico sought electricity from Canada, buying $3 million worth.

Strength in metals

In 2007, bilateral trade in metals accounted for $64 million. The state shipped $14 million in precious metals and alloys to Canada. New Mexico’s metal purchases led by imports of nickel and alloys, totaled $21 million, an increase of 91% from the previous year.

Canada–New Mexico Success Stories

Film production is hot in New Mexico

The booming New Mexican film industry is expected to see 3.8% growth in 2008 and is expected to bring hundred of new jobs to the state over the next 3 years. In 2006 Lions Gate Studios, located in North Vancouver, British Columbia purchased land for a 15 million dollar studio in Rio Rancho New Mexico. Initial proposals in the deal stipulated that over 1800 new jobs would be created as a result of Lion’s Gate’s investment in the region.

Solar power moves forward

Ontario-based Enerworks has partnered with Albuquerque-based Sunergy to market its solar hot water heater system. The EnerWorks appliances are the world’s first, in-home, renewable energy products that supply energy to the user for less than the cost of grid electricity — solar energy for around 6¢ per kilowatt-hour (kWh).

New Mexico visits Canada

For the first time, the New Mexico Secretary of Economic Development will lead a trade mission to Calgary in June 2008. The state, which has significant natural gas reserves, will participate in the Global Petroleum Show and hold meetings with the petroleum industry as well as with other business sectors. And New Mexico Tourism will be back at HarborFront in Toronto this summer promoting the state as a tourist destination.

June 2008

Tourism

• 60,500 New Mexico visits by Canadians, $24 million spent
• 33,900 New Mexico visits to Canada, $26 million spent

Jobs

• New Mexico jobs supported by Canada–U.S. trade: 44,500

Merchandise Trade

• Exports to Canada: $166 million
• Imports from Canada: $309 million
• Bilateral trade: $475 million

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Merchandise trade and tourism figures are from Statistics Canada, converted at the rate of US$1.00=C$1.0749. Merchandise trade is based on total exports and imports for the year 2007. Job numbers are based on 2005 data from a 2006 study 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.