Brazil Current Account


Current account deficit narrows in May

In May, the current account balance registered a deficit of USD 3.4 billion, which was an improvement from the USD 7.9 billion deficit recorded in the same month last year. The gap was narrower than market expectations of a USD 4.7 billion deficit.

The trade balance registered a surplus of USD 2.8 billion in May, which was notably above April’s USD 500 million surplus and the USD 700 million surplus recorded in May 2014. Brazil tallied a trade deficit in 2014 for the first time in 14 years on the back of a sharp decline in the value of key exports.

The moving 12-month current account deficit recorded USD 95.7 billion in May, which was an improvement over April’s USD 100.2 billion. May’s figure is equivalent to approximately 4.4% of GDP.

LatinFocus Consensus Forecast participants expect a current account deficit of 3.6% of GDP in 2015. For 2016, panelists expect the current account deficit to be 3.3% of GDP.

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Brazil Current Account Chart

Brazil Current Account May 2015

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

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