Mexico’s current account gap shrank to USD 5.63 billion in the first quarter of 2019 from USD 9.80 billion in the corresponding period of the previous year. The services deficit narrowed sharply to USD 0.19 billion from USD 1.63 billion in the three months to March of 2018; the primary income shortfall fell to USD 11.08 billion from USD 13.41 billion and the secondary income surplus widened to USD 7.49 billion from USD 7.01 billion. On the other hand, the goods gap went up to USD 1.86 billion from USD 1.77 billion a year earlier. Current Account in Mexico averaged -2111.97 USD Million from 1960 until 2019, reaching an all time high of 2173.70 USD Million in the first quarter of 1984 and a record low of -10693.30 USD Million in the first quarter of 2017.
Current Account in Mexico is expected to be -1900.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Mexico to stand at -8500.00 in 12 months time. In the long-term, the Mexico Current Account is projected to trend around -3700.00 USD Million in 2020, according to our econometric models.