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Financial News: MEXICO: Current Account Registers Deficit Of US $

MEXICO: Current Account Registers Deficit Of US $ 321 Million In 2Q17

08/27/2017 - 16:31:00 (RTTNews)

(RTTNews) - Mexico's current account posted a US$ 321 million deficit during the second quarter of 2017, said the country's central bank on Friday. Still according to Banxico, the country's capital account recorded a US$ 10 million deficit.

During the second quarter of 2017, the Mexican current account deficit stood at 0.1% of the Gross Domestic Product (GDP), lower than the 2.3% ratio posted in the second quarter of 2016. The annual decline in the current account deficit was primarily due to a reduction in the merchandise trade deficit, Banxico said.

Regarding the financial account, net borrowing resulted in a US$ 8.287 billion inflow, of which US$ 3,986 million corresponded to a decrease in reserve assets. Meanwhile, errors and omissions resulted in a US$ 7,956 million negative flow.

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