Mexico's current account deficit widened to USD 3.42 billion in the fourth quarter of 2018 from an upwardly revised USD 1.94 billion in the same quarter of the previous year and compared with market expectations of a USD 3.30 billion shortfall. The goods deficit advanced to USD 3.54 billion from a USD 1.87 deficit in the fourth quarter of 2017 and the primary income gap increased to USD 6.78 billion from USD 6.08 billion in the fourth quarter of 2017. Meantime, the services shortfall declined to USD 1.67 billion from USD 1.85 billion and the secondary income surplus rose to USD 8.56 billion from USD 7.87 billion. Considering full 2018, the current account balance posted a USD 22.19 billion gap compared to a USD 19.40 billion deficit in 2017. Current Account in Mexico averaged -2096.16 USD Million from 1960 until 2018, reaching an all time high of 2173.70 USD Million in the first quarter of 1984 and a record low of -10661.90 USD Million in the first quarter of 2017.
Current Account in Mexico is expected to be -4800.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Mexico to stand at -4350.00 in 12 months time. In the long-term, the Mexico Current Account is projected to trend around -3700.00 USD Million in 2020, according to our econometric models.