Mexico: Deficit in 1Q22, driven by the seasonality in primary income

  • The current account had a US$6.5bn deficit. Primary income and trade deficits were partly offset by secondary revenue

  • Net borrowing of US$6.7bn in the financial account, with most inflows coming as direct investment

  • We forecast a lower deficit in 2Q22 on seasonal effects. We also don’t rule out further distortions due to supply shocks

Subscribe to read this report

You can read this report by subscribing to a Starter or Pro plan today.

Already have an account? Log in


This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.

This publication is not intended for distribution to, or use by, any person or entity in any jurisdiction in any country where such distribution or use would be contrary to law or regulation, or which would subject Tellimer to any registration requirement within such jurisdiction or country.

This research is produced by a third party. The Tellimer team has had no editorial input into the content of the note.