In May, the current account balance incurred a deficit of USD 3.5 billion, which was smaller than the USD 5.4 billion shortfall registered in April but larger than market expectations, which had the current account deficit narrowing to USD 3.3 billion. The May print was mainly influenced by a higher trade surplus, which rose from USD 882 million in April to USD 3.0 billion in May. The services and income account has deteriorated slightly and edged down from a shortfall of USD 6.4 billion in April to a deficit of USD 6.7 billion in May. The moving 12-month current account deficit narrowed from USD 51.6 billion in April to USD 50.9 billion in May (approximately 2.1% of GDP).
Brazil Current Account
Current account gap narrows in May
June 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 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.
October 3, 2016
The Markit manufacturing Purchasing Managers’ Index (PMI) rose slightly in September, increasing from August’s 45.7 to 46.0.