Brazil Current Account

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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.

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.


Author: Angela Bouzanis, Senior Economist

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Brazil Current Account Chart


Brazil Current Account April 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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