Brazil Current Account


Brazil: Current account deficit narrows in July

August 25, 2015

In July, the current account balance registered a deficit of USD 6.2 billion, which was a notable improvement from the USD 9.3 billion deficit recorded in the same month last year. In addition, the gap was narrower than market analysts’ expectations of a USD 6.6 billion deficit.

The trade balance registered a surplus of USD 2.4 billion in July, which was notably below June’s 4.5 billion surplus, but an improvement from the USD 1.6 billion surplus recorded in July 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 89.4 billion in July, which was an improvement over June’s USD 92.5 billion deficit. July’s figure is equivalent to approximately 4.3% 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 July 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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