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.