Brazil: Current account deficit narrows in April
May 29, 2015
In April, the current account balance registered a deficit of USD 6.9 billion, which was an improvement from the USD 9.2 billion deficit recorded in the same month last year. The gap was wider than market expectations of a USD 6.7 billion deficit.
The trade balance registered a surplus of USD 500 million in April, which matched March’s result and mirrored the surplus recorded in April 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 100.2 billion in April, which was a slight improvement over March’s USD 102.5 billion. April’s figure is equivalent to approximately 4.5% of GDP.