Brazil: Current account deficit narrows in February
Brazil’s current account balance came in at a deficit of USD 1.1 billion in February, a smaller shortfall than the USD 2.0 billion deficit recorded in the same month of 2018.
The improvement was due chiefly to a higher trade surplus, which came in at USD 3.2 billion in February (February 2018: USD 2.7 billion). Meanwhile, foreign direct investment jumped to USD 8.4 billion in February, nearly double the USD 4.7 billion recorded in the same month of the previous year.
The 12-month trailing current account deficit hit USD 13.9 billion in February, smaller than January’s USD 14.8 billion shortfall. February’s result is equal to approximately 0.7% of GDP.