The negative balance of the current account in the first three months of the year, explained Banxico, was the product of the combination of a deficit in the balance of goods and services for 8,120 million dollars, a deficit in the balance of primary income for 19,954 million dollars and of a surplus in the balance of secondary income for 13,792 million dollars.
Regarding the balance of goods and services, the deficit of 8,120 million dollars was the product of negative balances of 4,864 million dollars in the balance of goods and 3,255 million dollars in the balance of services. While the balance of primary income presented a deficit of 19,954 million dollars, reflecting credits for 5,147 million dollars and debits for 25,101 million dollars.
The surplus of 13,792 million dollars in the balance of secondary income was the result of credits for 14,137 million dollars and debits for 345 million dollars; credit for remittances totaled 13,970 million dollars, an increase of 11.6%, and debit for remittances reached 322 million dollars, an annual increase of 18.7%.