Brazil: Current account deficit widens in December
The current account posted a USD 5.8 billion deficit in December, deteriorating from the USD 1.9 billion deficit clocked in November (December 2022: USD 7.5 billion deficit). Meanwhile, the 12-month trailing current account deficit deteriorated, coming in at USD 28.6 billion in December (November: USD 30.3 billion deficit).
The merchandise trade balance improved from the previous month, recording a USD 9.4 billion surplus in December (November 2023: USD 8.8 billion surplus). Merchandise exports increased 9.5% over the same month last year in December, on the heels of November’s 0.8% rise. Meanwhile, merchandise imports dived 10.7% in annual terms in December (November: -10.9% yoy).