Brazil Current Account


Brazil posts record current account deficit in December

In December, the current account balance incurred a record deficit of USD 8.4 billion, which was larger than both the USD 6.0 billion shortfall registered in the same month the year before and market expectations of a USD 6.3 billion deficit.

The print was influenced by a deterioration in the services and income account, which fell to a shortfall of USD 10.9 billion in December, down from the USD 10.0 billion deficit recorded in the same month the year before. In addition, the trade balance fell to a USD 2.2 billion surplus in December, down from the USD 3.8 billion surplus posted in the same month the previous year.

As a result, in the full year 2012 the current account deficit widened to USD 54.2 billion (approximately 2.4% of GDP), which was larger than the 2.1% deficit registered in 2011.


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Brazil Current Account Chart

Brazil Current Account December 2012

Note: Monthly and 12-month current account balance in USD billion.
Source: Central Bank of Brazil (BCB) and FocusEconomics calculations.

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