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.