Brazil Current Account November 2018

Brazil

Brazil: Current account deficit shrinks in November

December 21, 2018

Brazil’s current account balance came in at a deficit of USD 795 million in November, a smaller shortfall than the USD 2.2 billion deficit recorded in the same month of 2017.

The improvement was due in part to a higher trade surplus, which came in at USD 4.1 billion in November (November 2017: USD 3.5 billion). Meanwhile, foreign direct investment surged and came in at USD 10.3 billion in November, above the USD 4.6 billion recorded in the same month of the previous year.

The 12-month accumulative current account deficit narrowed in November to USD 14.0 billion from October’s USD 15.4 billion deficit. November’s result represented approximately 0.7% of GDP.

Analysts who participated in this month’s LatinFocus Consensus Forecast expect a current account deficit of 1.4% of GDP in 2019. For 2020, panelists expect the current account deficit to widen to 1.6% of GDP.


Author: Angela Bouzanis, Lead Economist

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Brazil Current Account Chart


Brazil Current Account November 2018

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


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