Mexico: Current Account Deficit Widens in Q1 2026.

Mexico’s current account posted a deficit of $15.88 billion in the first quarter of 2026, widening from a $13.34 billion gap in the same period of 2025 and missing forecasts of a $9.38 billion deficit. The January–March deficit reflected a $2.41 billion shortfall in the goods and services balance and a $28.06 billion deficit in the primary income balance, partly offset by a $14.59 billion surplus in the secondary income balance. Compared with a year earlier, Mexico recorded wider deficits in the petroleum trade balance, services balance, and primary income balance. Meanwhile, larger surpluses in the non-petroleum trade balance and secondary income balance helped cushion the deterioration. As a share of GDP, the current account deficit stood at 3.1% in Q1 2026, broadly stable from the 3.2% deficit recorded a year earlier.