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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| International Reserves (USD) | 177 | 177 | 173 | 175 | 181 |
Mexico International Reserves Chart
Source: Mexico National Statistical Institute (INEGI) and FocusEconomics calculations.
Mexico Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.87 | -0.24 % | Dec 31 |
| Exchange Rate | 18.93 | -0.29 % | Jan 01 |
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Economic News
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Mexico: Manufacturing PMI rises in November; non-manufacturing PMI improves
December 1, 2022
The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) came in at 50.5 in November, up from October's 50.0, aided by faster growth in employment and inventories, and a recovery in new orders.
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Mexico: Merchandise exports rise at a softer rate in October
November 29, 2022
Merchandise exports shot up 17.7% in annual terms in October, following September’s 25.3% upturn.
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Mexico: Banxico hikes by 75 basis points in November
November 10, 2022
On 10 November, the Governing Board of the Bank of Mexico (Banxico) opted to raise the target for the overnight interbank interest rate by 75 basis points to 10.00%, marking the fourth consecutive 75 basis-point hike.
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Mexico: Inflation falls to lowest level since July in October
November 9, 2022
Inflation ticked down to 8.4% in October, which followed September’s 8.7%.
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Mexico: Consumer confidence is unchanged in October
November 7, 2022
Consumer confidence came in at 41.0 in October, unchanged from September.
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