Feb 25 Mexico’s current account deficit swelled last year to its largest in at least 20 years, as a collapse in oil prices widened its shortfall in foreign trade, central bank figures showed on Thursday.
The current account deficit widened to $32.38 billion from $24.85 billion in 2014, its biggest since at least 1995.
As a proportion of the gross domestic product it rose last year to 2.8 percent, its largest since 1998. It was 1.9 percent of GDP in 2014.
The trade deficit in goods mushroomed in 2015 to $14.46 billion dollars from $2.85 billion in 2014. The petroleum component of foreign trade slumped to a $9.9 billion deficit from a $1.1 billion surplus in 2014.
Sinking oil prices have pushed Mexico’s peso to a series of record lows in recent months, hammering public finances.