Brazil Current Account August 2017


Brazil: Current account deficit narrows in August

September 26, 2017

Brazil’s current account balance came in at a deficit of USD 302 million in August, which was a smaller shortfall compared to August 2016’s USD 648 million deficit. However, the result was a wider gap than market expectations of a USD 190 million deficit.

The trade surplus came in at USD 5.6 billion in August, which was above August 2016’s USD 4.1 billion. Exports recorded another month of double-digit expansion, helped by a bumper year for agricultural products. In addition, higher prices for commodities helped boost the value of overseas shipments. Meanwhile, imports rose 8.0% annually in August and foreign direct investment came in at USD 5.1 billion.

The 12-month accumulative current account deficit narrowed to USD 13.5 billion in August from USD 13.8 billion in July. August’s result marked a deficit of approximately 0.7% of GDP.

Analysts who participated in this month’s LatinFocus Consensus Forecast panel expect a current account deficit of 0.8% of GDP in 2017. For 2018, panelists expect the current account deficit to widen to 1.3% of GDP.

Author: Angela Bouzanis, Senior Economist

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Brazil Current Account Chart

Brazil Current Account August 2017

Note: Monthly and 12-month current account balance in USD billion.
Source: Central Bank of Brazil (BCB) and FocusEconomics calculations.

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