Brazil Current Account


Brazil: Current account deficit narrows in May

June 24, 2014

In May, the current account balance incurred a deficit of USD 6.6 billion. The print came in a notch below the USD 6.4 billion shortfall registered in the same month last year and was in line with market expectations.

The trade balance registered a surplus of USD 0.7 billion in May, which was a tad below the USD 0.8 billion surplus recorded in May 2013. Moreover, the services and income balance tallied a USD 7.4 billion deficit in May, which represented a slight deterioration compared to the USD 7.3 billion shortfall posted in the same month last year.

The moving 12-month current account deficit widened from the USD 81.6 billion tallied in April to USD 81.9 billion in May and now represents approximately 3.6% of GDP.

LatinFocus Consensus Forecast participants expect a current account deficit of 3.5% of GDP in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, panelists expect the current account deficit to be 3.1% of GDP.


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Brazil Current Account Chart

Brazil Current Account May 2014

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

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