Mexico | Goods and services drive the current account deficit in 2021

Summary

Information corresponding to 4Q21 indicates that the current account registered a surplus of USD 3.0 billion, whose annualized figure is equal to 0.9% of GDP. For 2022 we forecast that the current account will post a deficit of USD 12.0 billion or 0.9% of GDP.

Key points

• Key points:
• The current account deficit in 2021 contrasted with the surplus posted one year before and was mainly due to the lower surplus in the trade balance on non-oil merchandises
• Net foreign direct investment posted an increase of 43.4% YoY in 2021 when comparing preliminary figures

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