He current account deficit Mexico grew by 63.52% in 2022, going to 13,423 million dollars compared to the also negative figure of 8,209 million dollars in 2021, as revealed this Friday by the balance of payments of the Bank of Mexico (Banxico).
Furthermore, as a proportion of gross domestic product (GDP)in 2022 the current account deficit it was located at 0.9%, higher than the 0.6% of 2021.
Banxico stated in his report that the deficit it was the result of credits for 706,355 million dollars and debits for 719,779 million dollars”.
The negative balance of the current account in 2022 was derived from the combination of a deficit in the balance of goods and services for 41,460 million dollars, a deficit in the balance of primary income for 30,032 million dollars and a surplus in the balance of secondary income for 58,068 million dollars”,
said.
The central bank also explained that the phenomenon reflects the “significant increase in the balance deficit of oil merchandise and the decrease in the surplus of the balance of non-oil merchandise”.
This was “partially offset by the dynamism that income from remittances and travel continued to show.”
On the other hand, the balance of capital showed a deficit of 72 million dollars, 50% more than the 48 million dollars of 2021.
While the financial account, which includes loans and indebtedness nethad a deficit of 12,784 million dollars, 1,315% more than the 903 million dollars of the previous year.
The data complements that of the balance of trade revealed last January, when it was reported that the Mexican economy had a trade deficit of 26,421.2 million dollars in 2022, a figure 141.5% higher than the also negative data of 10,939 million dollars in 2021.
The balance of payments reflects the payments and income from foreign exchanges of goods, services, income and transfers, and is considered one of the broadest indicators of a country.
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