FX.co ★ Mexico Current Account Deficit Widens in Q1 2026

Mexico’s current account registered a deficit of $15.88 billion in the first quarter of 2026, widening from a $13.34 billion shortfall in the same period of 2025 and falling short of market expectations for a $9.38 billion deficit. The January–March gap reflected a $2.41 billion deficit in the goods and services balance and a $28.06 billion shortfall in the primary income balance, partly offset by a $14.59 billion surplus in the secondary income balance.

Year-on-year, Mexico posted deeper deficits in the petroleum trade balance, the services balance, and the primary income balance. However, these were partially mitigated by larger surpluses in the non-petroleum trade balance and in secondary income. Measured as a share of GDP, the current account deficit came in at 3.1% in Q1 2026, broadly unchanged from the 3.2% deficit recorded a year earlier.