In October, the current account balance incurred a deficit of USD 5.4 billion, which was larger than both the USD 3.2 billion shortfall registered in the same month last year as well as market expectations of a USD 4.7 billion deficit. In fact, the reading represents the largest monthly deficit observed since January this year. The print was influenced by a deterioration in the trade surplus, which fell to USD 1.7 billion (October 2011: USD 2.4 billion). Moreover, the services and income account deteriorated to a shortfall of USD 7.4 billion, down from the USD 5.8 billion deficit recorded in the same month last year. As a result, the moving 12-month current account deficit widened from USD 49.9 billion in September to USD 52.2 billion in October (approximately 2.3% of GDP).
Brazil Current Account
Current account deficit widens to nine-month high in October
November 22, 2012
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Brazil Current Account Chart
Note: Monthly and 12-month current account balance in USD billion.
Source: Central Bank of Brazil (BCB) and FocusEconomics calculations.
Brazil Economic News
October 25, 2016
Brazil’s current account balance improved in September, continuing to build on the considerable gains made over the past year.
October 19, 2016
At its 19 October meeting, the Central Bank’s Monetary Policy Committee (COPOM, Comite de Politica Monetaria) decided to cut the benchmark SELIC interest rate for the first time in four years, lowering it from 14.25% to 14.00%.
October 18, 2016
Retail sales (excluding cars and construction) fell 0.6% in August from the previous month in seasonally-adjusted terms.
October 7, 2016
Consumer prices in September increased 0.08% over the previous month, the lowest rise since July 2014.
October 4, 2016
In August, industrial production plunged 3.8% over the previous month in seasonally-adjusted terms, which significantly contrasted the 0.1% expansion recorded in July and marked the worst result since January 2012.