Mexico's current account deficit increased to USD 5.08 billion in the third quarter of 2018 from an upwardly revised USD 4.97 billion in the same quarter of the previous year. Figures came worse than estimates of a USD 4.40 billion shortfall, as the primary income gap went up to USD 4.82 billion from USD 3.45 billion in the third quarter of 2017. Meanwhile, the goods deficit shrank to USD 5.72 billion from USD 6.08 billion and the services gap also decreased to USD 2.78 billion from USD 2.97 billion. In addition, the secondary income surplus widened to USD 8.24 billion from USD 7.53 billion in the same quarter of the previous year. Current Account in Mexico averaged -2075.74 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 -10376.90 USD Million in the first quarter of 2017.
Current Account in Mexico is expected to be -2300.00 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 -4600.00 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.