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.