Mexico is the 15th largest economy in the world. It has been Arizona’s top trading
partner for more than two decades, resulting in approximately $15.9 billion in total
trade in 2014. Forty percent of all Arizona exports in the world go to Mexico,
with 66 percent of those exports going to the state of Sonora. With the wage rate
gap closing between China and Mexico, it even makes it a more viable option for
nearshoring for Arizona companies. Currently, more than 380,000 trucks travel through Arizona land ports of entry each year.
More than 47,800 residents of Mexico travel to Arizona each day for business, leisure
and recreation, or to visit friends and relatives. Just from a retail tourism perspective,
that equates to about $6.2 million dollars a day in spending with half of it spent
in the retail trade sector. That investment results in over 23,000 total jobs
and $836 million in labor income in Arizona.
Over the last decade 17 percent of Mexico’s population has now joined the middle
class, allowing for more market opportunities for companies that want to export
from the U.S. and from Arizona.
In terms of demographics, Arizona and Sonora both have the largest population in
the working ages of 30-64. However, Sonora has a higher percentage of its population
in the working age group.
For additional details, see the following charts and tables.