Mexico’s Q4 Current Account Surplus Narrows

Mexico recorded a Q4 2025 current account surplus of $7.7 billion, down from $10.8 billion a year earlier. The goods trade surplus widened to $183.4 billion (from $162.1 billion), while the services surplus rose to $20.2 billion (from $18.6 billion). Primary income climbed to $11.9 billion (from $10.2 billion), and secondary income edged up slightly to $0.331 billion (from $0.327 billion).

Mexico posted a current account surplus of USD 2.32 billion in Q3 2025, reversing a USD 2.04 billion deficit a year earlier. The secondary income balance registered a USD 16.11 billion surplus, supported by USD 16.41 billion in credits. The primary income account showed a USD 4.91 billion deficit. Meanwhile, the goods and services balance posted an USD 8.87 billion deficit, with a USD 4.28 billion shortfall in goods and USD 4.59 billion in services.

Mexico posted a current account surplus of $206 million in Q2 2025, reversing a $911 million deficit a year earlier. The improvement was driven mainly by a stronger non-oil goods balance and a narrower services deficit, partly offset by wider shortfalls in oil trade and primary income, as well as a smaller secondary income surplus. The goods and services balance showed an $887 million surplus, with a $1.72 billion goods surplus offset by an $833 million services deficit. The primary income deficit stood at $15.9 billion, reflecting $5.7 billion in credits and $21.6 billion in debits. Secondary income recorded a $15.2 billion surplus, supported by remittances of $15.3 billion, though inflows fell 11.2% year-on-year, while outflows dropped 13.6% to $299 million.