Brazil Current Account

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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.

LatinFocus Consensus Forecast participants expect a current account deficit of 3.5% of GDP in 2014, which is down 0.1 percentage points from last month’s forecast. For 2015, panelists expect the current account deficit to be 3.1% of GDP.


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Brazil Current Account Chart


Brazil Current Account April 2014 0

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


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