Mexico | Increase in manufactured imports contributes to current account deficit

Summary

Information corresponding to 3Q21 indicates that the current account posted a deficit of USD 4.1 billion, whose annualized figure is equal to 1.3% of GDP. For 2021 we forecast that the current account will register a deficit of USD 9.2 billion or 0.7% of GDP.

Key points

• Key points:
• The current account deficit in the third quarter of 2021 contrasted with the surplus posted one year before and was mainly due to the deficit in the trade balance on non-oil merchandises
• Net foreign direct investment posted an increase of 22.6% YoY in January-September 2021 when comparing preliminary figures

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