International Reserves in Mexico
Mexico - International Reserves
Current account deficit widens amid recovering domestic demand
The current account registered a deficit of USD 1.8 billion in the third quarter, which was larger than the previous quarter's deficit of USD 0.6 billion, but smaller than the USD 3.6 billion deficit incurred in the same quarter last year. Moreover, the reading came in above market expectations, which had the current account deficit reaching USD 3.0 billion in the third quarter. The quarterly figure was mostly led by a widening of the trade balance deficit (Q2: USD 0.1 billion; Q3: USD 2.3 billion). Exports reached USD 75.5 billion, which represented a minor improvement over the previous quarter (Q2: USD 74.7 billion) while imports rose more markedly form USD 74.7 billion in the second quarter to USD 77.8 billion in the third quarter. Furthermore, a wider deficit in the services balance also contributed to the deterioration of the current account, as it increased from USD 2.7 billion in the second quarter to USD 3.0 billion in the third quarter. Yet, the widening deficit was partially offset by an improvement in the income balance deficit (Q2: USD 3.8 billion; Q3: USD 2.1 billion). Meanwhile, the transfers balance fell from a USD 5.9 billion surplus in the second quarter to a USD 5.6 billion surplus in the third quarter, driven almost entirely by lower remittances from workers abroad, which dropped to USD 5.5 billion (Q2: USD 5.8 billion). Owing to the moderate quarterly reading, the moving annual current account deficit shrank from USD 5.3 billion in the second quarter to USD 3.5 billion in the third quarter.
Mexico - International Reserves Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| International Reserves (USD) | 177 | 193 | 177 | 177 | 173 |
Mexico International Reserves Chart
Source: Mexico National Statistical Institute (INEGI) and FocusEconomics calculations.
Mexico Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.95 | -0.24 % | Sep 04 |
| Exchange Rate | 19.72 | -0.29 % | Sep 04 |
| Stock Market | 42,324 | 0.12 % | Sep 04 |
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Economic News
Mexico: Banxico slashes rate for third time in a row in November
November 14, 2019
At its 14 November meeting, the Governing Board of the Bank of Mexico (Banxico) decided to lower the target for the overnight interbank interest rate by 25 basis points to 7.50%, marking the third consecutive cut and coming in line with market expectations.
Mexico: Inflation holds steady at Banxico’s target in October
November 7, 2019
Consumer prices rose 0.54% from the previous month in October, following the 0.26% month-on-month increase logged in September.
Mexico: Consumer sentiment weakens in October
November 6, 2019
Consumer confidence fell in October, with the seasonally-adjusted consumer confidence indicator published by the Statistical Institute (INEGI) coming in at 43.9 points, down from 44.8 points in the previous month.
Mexico: Remittances growth eases in September but remains robust
November 1, 2019
Remittances totaled USD 3.1 billion in September (August: USD 3.4 billion), a 13.3% surge from the same month a year ago (August: +17.0% year-on-year).
Mexico: Manufacturing PMIs show mixed results in October but conditions remain subdued
November 1, 2019
The seasonally-adjusted manufacturing Purchasing Managers’ Index (PMI) produced by the Mexican Institute of Financial Executives (IMEF) dipped from 48.1 points in September to 46.7 points in October, marking the lowest reading since April 2017.
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