Brazil Current Account November 2016


Brazil: Current account deficit narrows in November

December 20, 2016

Brazil’s current account balance improved in November, registering a shortfall of USD 0.9 billion compared to the USD 3.3 billion deficit in the previous month and the USD 2.9 billion deficit in November 2015. However, the figure for November 2016 was substantially larger than analysts’ expectations of a USD 0.2 billion shortfall.

The trade surplus rose to USD 4.8 billion in November from USD 2.3 billion in October, driven by a double-digit expansion in exports compared to November 2015 and a sharp yoy fall in imports. Meanwhile, foreign direct investment came in at USD 8.8 billion in November, up from October’s USD 8.4 billion.

The moving 12-month current account deficit continued to narrow and was USD 20.3 billion in November, above October’s USD 22.3 billion deficit and marking the smallest shortfall since October 2009.

Analysts who participated in this month’s LatinFocus Consensus Forecast panel expect a current account deficit of 1.1% of GDP in 2016. For 2017, panelists expect the current account deficit to be 1.4% of GDP.

Author:, Economist

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Brazil Current Account Chart

Brazil Current Account November 2016

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

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