Brazil Current Account

Brazil

Brazil: Current account deficit unchanged in August

September 26, 2014

In August, the current account balance registered a deficit of USD 5.5 billion, which was unchanged from the same month last year. The gap undershot market expectations of a USD 6.0 billion deficit.

The trade balance registered a surplus of USD 1.2 billion in August, which was unchanged from the surplus recorded in August 2013. Conversely, the services and income balance tallied a USD 6.7 billion deficit in August, a slight improvement compared to the USD 6.9 billion shortfall posted in the same month last year.

The moving 12-month current account deficit stayed unchanged at July’s USD 78.4 billion, which is equivalent to approximately 3.5% of GDP.

LatinFocus Consensus Forecast participants expect a current account deficit of 3.6% of GDP in 2014, which is unchanged from last month’s forecast. For 2015, panelists expect the current account deficit to be 3.3% of GDP.


Author: Angela Bouzanis, Senior Economist

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Brazil Current Account Chart


Brazil Current Account August 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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