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Mexico Current Account to GDP Ratio

Mexico's current account deficit narrowed to -0.8% of GDP in 2024, an improvement from -1.5% in 2023. This is the highest current account to GDP ratio since 2021. The deficit reduction occurred as the services balance gap decreased to USD 1,169 million in the fourth quarter of 2024 from USD 3,588 million in the same period of the previous year. Remittances also supported the current account balance. The deficit in oil-related goods shrank from USD -18,561 million in 2023 to USD -10,044 million in 2024. Mexico's record low current account to GDP was -2.5% in 2015 and its record high was 2.4% in 2020.

Yearly Historical Data (2012-2024)

(in %)
Year Current Account to GDP Ratio
2024 -0.8%
2023 -1.5%
2022 -1.2%
2021 -0.6%
2020 2.4%
2019 -0.3%
2018 -1.9%
2017 -1.7%
2016 -2.1%
2015 -2.5%
2014 -1.8%
2013 -2.4%
2012 -1.5%
Mexico Current Account to GDP Ratio : Definition
Mexico's current account to GDP shows the current account balance as a percentage of the country's gross domestic product. It's calculated by dividing the current account balance which includes trade in goods and services, net income and current transfers, by the GDP, then multiplying by 100. A negative value indicates a current account deficit.
Indicator Last Value Prior Value Period
Debt to GDP Ratio 49.7% 53.1% Dec'24
Interest Rate 7.5% 7.75% Sep'25
Private Credit (% GDP) 34.65% 33.24% 2024