Brazil: Current account deficit widens in April
May 27, 2014
In April, the current account balance incurred a deficit of USD 8.3 billion. The print was a notch above the USD 8.2 billion shortfall registered in the same month last year and came in below market expectations of a USD 6.5 billion deficit.
The trade balance registered a surplus of USD 0.5 billion in April, which contrasted the USD 1.0 billion deficit recorded in April 2013. Moreover, the services and income balance tallied a USD 8.9 billion deficit in April, which represented a deterioration compared to the USD 7.5 billion shortfall posted in the same month last year.
The moving 12-month current account deficit was stable at USD 81.6 billion in April, the same result tallied in March, representing approximately 3.7% of GDP.