Brazil Current Account January 2019

Brazil

Brazil: Current account deficit widens in January

February 25, 2019

Brazil’s current account balance came in at a deficit of USD 6.5 billion in January, a slightly higher shortfall than the USD 6.3 billion deficit recorded in the same month of 2018.

The deterioration was due chiefly to a lower trade surplus, which came in at USD 2.2 billion in January (January 2018: USD 2.8 billion). Meanwhile, foreign direct investment fell to USD 5.9 billion in January, below the USD 8.4 billion recorded in the same month of the previous year.

The 12-month trailing current account deficit hit USD 14.8 billion in January, larger than December’s USD 14.5 billion shortfall. January’s result is equal to approximately 0.8% of GDP.

Analysts who participated in this month’s LatinFocus Consensus Forecast expect a current account deficit of 1.3% of GDP in 2019. For 2020, panelists expect the current account deficit to widen to 1.6% of GDP.


Author: Angela Bouzanis, Lead Economist

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Brazil Current Account Chart


Brazil Current Account January 2019

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


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