New Mexico vs Texas: two economies side by side

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

SouthwestNew Mexico leads on 2, Texas on 9 of 11 measures

Indicator	A · NM	B · TX	Ranks
GDP, 2025	$152.1B	$2.93T	38 · 2
Real GDP growth, 2025	+1.8%	+2.8%	31 · 9
Real growth a year since 2015	+2.7%	+3.6%	13 · 6
GDP per person	$71,569	$92,474	42 · 14
Income per person, 2025	$62,089	$73,156	46 · 26
Real income per person (2017 $)	$51,121	$58,219	49 · 27
Price level (US = 100)	92.2	97.1	37 · 25
Housing costs (US = 100)	73.6	96.5	37 · 20
Unemployment, September 2026	4.7%	4.4%	44 · 38
Population	2,125,498	31,709,821	36 · 2
Population growth a year since 2020	+0.07%	+1.6%	43 · 4

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

New MexicoTexas

Fig. 2Unemployment rateMonthly, seasonally adjusted, since 2015

New MexicoTexas

Industry mix, 2025

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

Industry	NM	TX	Gap, pp	Larger in
Government	21.5%	9.0%	12.5	NM
Manufacturing	2.9%	11.3%	8.4	TX
Mining, oil & gas	12.3%	6.9%	5.4	NM
Wholesale trade	3.2%	8.6%	5.4	TX
Finance & insurance	3.9%	7.4%	3.5	TX
Information	2.1%	4.0%	1.8	TX
Health care	7.3%	5.6%	1.7	NM
Transportation & warehousing	2.7%	3.9%	1.1	TX
Accommodation & food	3.7%	2.6%	1.0	NM
Management of companies	0.5%	1.3%	0.8	TX
Real estate	11.9%	12.7%	0.8	TX
Retail trade	6.4%	5.7%	0.7	NM
Professional services	8.1%	7.5%	0.6	NM
Agriculture	1.1%	0.6%	0.5	NM
Construction	4.4%	4.9%	0.5	TX
Other services	2.1%	1.8%	0.3	NM
Administrative & waste services	3.0%	3.2%	0.2	TX
Education	0.5%	0.7%	0.2	TX
Utilities	1.6%	1.8%	0.2	TX
Arts & recreation	0.8%	0.6%	0.1	NM