*Mexico’s central bank (Banxico) has announced that Mexico has reduced its current account deficit by 67.6% in 2023 as compared to the previous year, registering a deficit of US$5.72bn compared to US$17.67bn in 2022. The current account deficit for 2023 equated to 0.3% as a proportion of GDP, down from 1.2% in 2022. Banxico attributes the drop in the deficit to a “significant decrease” in the deficit for oil merchandise and, to a lesser extent, higher surpluses in the non-oil merchandise balance and the secondary income balance.
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LatinNews Daily - 26 February 2024
In brief: Mexico’s current account deficit registers yearly drop
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