Brazil Current Account January 2017


Brazil: Current account deficit widens in January

January 24, 2017

Brazil’s current account balance deteriorated in January, registering a shortfall of USD 5.1 billion compared to the USD 4.8 billion deficit in the same month of 2016. January’s deficit, however, came in under both analysts’ expectations of a USD 5.3 billion shortfall and December’s result.

The trade surplus fell to USD 2.7 billion in January from USD 4.4 billion in December (January 2016: USD 0.9 billion). Exports growth surged, coming in at 32.6% over the same month last year. Imports also picked up pace, expanding 18.1%. Meanwhile, foreign direct investment came in at USD 11.5 billion in January, down from December’s USD 15.4 billion.

In January, the 12-month accumulative current account deficit widened slightly to USD 23.8 billion from USD 23.5 billion in December. The result marked a deficit of approximately 1.3% of GDP.

Analysts who participated in this month’s LatinFocus Consensus Forecast panel expect a current account deficit of 1.4% of GDP in 2017. For 2018, panelists also expect the current account deficit to be 1.4% of GDP.

Author:, Economist

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Brazil Current Account Chart

Brazil Current Account January 2017 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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