Brazil: Current account deficit narrows notably in 2017
January 26, 2018
Brazil’s current account balance came in at a deficit of USD 4.3 billion in December, which was a lesser gap than the USD 5.9 billion deficit recorded in December 2016.
The trade surplus came in at USD 5.0 billion in December, which was above December 2016’s USD 4.4 billion. Exports soared 9.4% over the same month of the previous year, while reviving domestic demand cause imports to grow a buoyant 8.5% annually. Foreign direct investment came in at USD 5.4 billion.
For the year 2017, the current account deficit came in at USD 9.8 billion, notably below 2016’s USD 23.5 billion. The result marked a deficit of approximately 0.5% of GDP.