Mexico | Global crisis leads to current account reversal

Summary

In contrast to the current account deficit recorded in the third quarter of 2019, this indicator showed a surplus of USD 17.498 billion in the third quarter of 2020, mainly due to the much higher positive balance on non-oil goods.

Key points

• Key points:
• Net Foreign Direct Investment falls by 18.3% year on year in the January–September period of 2020
• Our forecasts indicate that the current account deficit will stabilize at about 1.2% of GDP in the medium term and that there will be no structural problem with its financing

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