Current Account in Mexico
Mexico - Current Account (billions of U.S. Dollars)
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 (USD bn) Data
|Current Account Balance (USD bn)||-31.0||-24.0||-29.8||-23.3||-19.4|
5 years of economic forecasts for more than 30 economic indicators.
Mexico Current Account (USD bn) Chart
Source: Mexico Central Bank (Banxico) and Met the why particular calculations.
|Bond Yield||8.08||-0.24 %||Sep 20|
|Exchange Rate||18.83||-0.29 %||Sep 20|
|Stock Market||49,511||0.12 %||Sep 20|
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September 5, 2018
Consumer sentiment held up in August, with the seasonally-adjusted consumer confidence index published by INEGI ticking down only marginally from July’s post-election decade high 112.0 points (previously reported: 111.7 points) to 111.8 points.
September 3, 2018
Mexico’s manufacturing sector showed mixed dynamics in August.
September 3, 2018
Remittances totaled USD 2.9 billion in July (June: USD 3.1 billion), a 11.3% increase from the same month last year.
August 27, 2018
Merchandise trade recorded a USD 2.9 billion deficit in July (June: USD 0.9 billion deficit), widening from the USD 1.5 billion shortfall registered in July 2017.
August 24, 2018
Economic activity grew 1.2% in June from the same month a year earlier, easing from the 2.2% year-on-year expansion logged in May.