Macro Analysis /
GlobalMexico: Current account – Lower deficit in 2Q22, offset by secondary income
Current account deficit of US$703.5mn. Negative trade & primary income balances and a surplus in secondary income
Net borrowing of US$114.7mn in the financial account, with outflows centered in portfolio investments
We expect a deficit in 3Q22 on lower energy prices and despite remittances remaining as a strong source of inflows
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
26 August 2022
Published byBanorte
