Brazil: Current account deficit widens in September
October 23, 2012
In September, the current account balance incurred a deficit of USD 2.6 billion, which was larger than the USD 2.2 billion shortfall registered in the same month last year and was broadly in line with market expectations of a USD 2.5 billion deficit. The print was mainly influenced by a deterioration in the trade surplus, which fell to USD 2.6 billion (September 2011: USD 3.1 billion). On the other hand, the services and income account improved somewhat and rose to a shortfall of USD 5.3 billion, up from the USD 5.5 billion deficit recorded in the same month last year. The moving 12-month current account deficit widened marginally from USD 49.6 billion in August to USD 49.9 billion in September (approximately 2.2% of GDP).