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A1US GDP 2025 $30.86T│A2Real growth +2.3%│A3CPI, 12 mo to Sep 2026 +3.7%│A4Unemployment 2025 4.3%BEA · BLS · Census — updated October 29, 2026
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AZ:NM=COMPARE("AZ", "NM")

Arizona vs New Mexico: two economies side by side

Arizona and New Mexico share a border. Here are the two economies on the same measures, with the rank of each among 51 states and DC.

SouthwestArizona leads on 7, New Mexico on 4 of 11 measures
IndicatorA · AZB · NMRanks
GDP, 2025$592.1B$152.1B15 · 38
Real GDP growth, 2025+1.5%+1.8%36 · 31
Real growth a year since 2015+3.9%+2.7%4 · 13
GDP per person$77,665$71,56935 · 42
Income per person, 2025$68,373$62,08935 · 46
Real income per person (2017 $)$52,890$51,12143 · 49
Price level (US = 100)100.792.217 · 37
Housing costs (US = 100)106.873.616 · 37
Unemployment, September 20264.9%4.7%46 · 44
Population7,623,8182,125,49814 · 36
Population growth a year since 2020+1.2%+0.07%8 · 43

Highlighted: the higher value, or the lower one for prices and unemployment. BEA (GDP, income, price parities), BLS (unemployment).

Fig. 1Real GDP, index 2015 = 100Chained 2017 dollars
8010012014016020162018202020222024ArizonaNew Mexico
ArizonaNew Mexico
Fig. 2Unemployment rateMonthly, seasonally adjusted, since 2015
0%5%10%15%201620182020202220242026ArizonaNew Mexico
ArizonaNew Mexico

Industry mix, 2025

Share of each state’s GDP. Sorted by the gap between the two.

IndustryAZNMGap, ppLarger in
Government9.7%21.5%11.7NM
Mining, oil & gas1.1%12.3%11.2NM
Finance & insurance9.8%3.9%6.0AZ
Real estate16.9%11.9%5.0AZ
Manufacturing7.4%2.9%4.5AZ
Professional services5.7%8.1%2.4NM
Wholesale trade5.6%3.2%2.4AZ
Construction6.3%4.4%1.9AZ
Information3.3%2.1%1.2AZ
Health care8.5%7.3%1.2AZ
Administrative & waste services4.1%3.0%1.1AZ
Management of companies1.4%0.5%1.0AZ
Retail trade7.1%6.4%0.8AZ
Agriculture0.5%1.1%0.6NM
Education1.1%0.5%0.5AZ
Transportation & warehousing3.2%2.7%0.5AZ
Other services1.9%2.1%0.3NM
Utilities1.8%1.6%0.2AZ
Arts & recreation0.9%0.8%0.2AZ
Accommodation & food3.5%3.7%0.2NM