Mexico | A historic surplus in the 2020 current account

Summary

In contrast to the current account deficit of USD 4,238 million posted in 2019, this indicator showed a surplus of USD 26,571 million in 2020 as the trade balance on non-oil goods registered a much higher positive figure.

Key points

• Key points:
• The current account reversal from a negative balance to last year’s surplus has occurred since 2019. In the 2019-20 period, the current account balance has increased by USD 51,910 million
• This reversion speaks of the continued weakness in the domestic market and the external market’s resilience after the significant contraction of global economic activity caused by the COVID-19 pandemic during the second quarter of 2020

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