Brazil: Brazil's monthly current account gap widens in July
August 23, 2011
In July, the current account balance incurred a deficit of USD 3.5 billion, which exceeded the USD 3.3 billion deficit registered in June. The trade balance remained in surplus in July totalling USD 3.1 billion, while the deficit in the services and income balance reached USD 6.9 billion. The moving 12-month current account deficit stood at USD 47.9 billion in July, which dropped below the USD 49.0 billion gap observed in June. The persisting current account deficit reflects a gap between domestic investment and saving in the economy.