Mexico Wider Current Account Deficit in 1Q26

Mexico's 1Q26 current account deficit widened to US$15.9bn, slightly exceeding expectations, while FDI remained stable at US$25.3bn. Strong fixed-income inflows boosted portfolio flows despite equity outflows and lingering policy uncertainty regarding US trade relations.

Key Takeaways

• 1.Mexico's current account deficit widened to US$15.9bn in 1Q26, slightly more than consensus expectations, driven by deteriorating oil and services balances.
• 2.Foreign Direct Investment (FDI) remained stable at US$25.3bn, though it was largely supported by profit reinvestment rather than new equity investment.
• 3.Portfolio flows saw a significant shift to US$6.4bn in inflows, as strong local fixed-income demand offset outflows from local equities.

Table of Contents

• KEY FIGURES:
• DETAILS:
• Balance of Payments Flows (2016-2025)
• Large Non-Oil Trade Balance Surplus
• Disclosure Appendix

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