Current Account in Mexico
Mexico - Current Account
Current account deficit widens amid recovering domestic demand
The current account registered a deficit of USD 1.8 billion in the third quarter, which was larger than the previous quarter's deficit of USD 0.6 billion, but smaller than the USD 3.6 billion deficit incurred in the same quarter last year. Moreover, the reading came in above market expectations, which had the current account deficit reaching USD 3.0 billion in the third quarter. The quarterly figure was mostly led by a widening of the trade balance deficit (Q2: USD 0.1 billion; Q3: USD 2.3 billion). Exports reached USD 75.5 billion, which represented a minor improvement over the previous quarter (Q2: USD 74.7 billion) while imports rose more markedly form USD 74.7 billion in the second quarter to USD 77.8 billion in the third quarter. Furthermore, a wider deficit in the services balance also contributed to the deterioration of the current account, as it increased from USD 2.7 billion in the second quarter to USD 3.0 billion in the third quarter. Yet, the widening deficit was partially offset by an improvement in the income balance deficit (Q2: USD 3.8 billion; Q3: USD 2.1 billion). Meanwhile, the transfers balance fell from a USD 5.9 billion surplus in the second quarter to a USD 5.6 billion surplus in the third quarter, driven almost entirely by lower remittances from workers abroad, which dropped to USD 5.5 billion (Q2: USD 5.8 billion). Owing to the moderate quarterly reading, the moving annual current account deficit shrank from USD 5.3 billion in the second quarter to USD 3.5 billion in the third quarter.
Mexico - Current Account Data
|Current Account (% of GDP)||-2.4||-1.8||-2.5||-2.2||-1.7|
5 years of economic forecasts for more than 30 economic indicators.
Mexico Current Account Chart
Source: Mexico Central Bank (Banxico) and Met the why particular calculations.
|Bond Yield||7.77||-0.24 %||Jul 13|
|Exchange Rate||18.89||-0.29 %||Jul 13|
|Stock Market||48,116||0.12 %||Jul 13|
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July 9, 2018
Consumer prices rose 0.39% from a month earlier in June, contrasting their 0.16% fall recorded in May.
July 5, 2018
Consumer sentiment rose in June, with the seasonally-adjusted consumer confidence index published by INEGI hitting a half-year high of 88.0 points, up from a revised 87.1 points (previously reported: 87.0 points) in May.
July 2, 2018
Remittances totaled USD 3.1 billion in May (April: USD 2.7 billion), a robust 19.8% increase from the same month last year, accelerating from the 17.9% rise registered in April.
July 2, 2018
Mexico’s manufacturing sector wrapped up the first half of the year on a high note.
June 27, 2018
Merchandise trade recorded a USD 1.6 billion deficit in May, widening notably from the USD 1.2 billion deficit registered in May 2017 and also the USD 289 million deficit registered in April.