Brazil Current Account


Brazil: Current account deficit worsens in October

November 24, 2014

In October, the current account balance registered a deficit of USD 8.1 billion, which was a deterioration from the 7.1 billion deficit recorded in the same month last year. The gap exceeded market expectations of a USD 7.5 billion deficit and marked the largest deficit in six months.

The trade balance registered a shortfall of USD 1.2 billion in October, which was a significant deterioration from the USD 2 million deficit recorded in October 2013. Conversely, the services and income balance tallied a USD 7.2 billion deficit in October, which was a smaller shortfall compared to the USD 7.5 billion posted in the same month last year.

The moving 12-month current account deficit worsened from September’s USD 83.4 billion to USD 84.4 billion in October, which is equivalent to approximately 3.7% of GDP and marks an all-time record.

LatinFocus Consensus Forecast participants expect a current account deficit of 3.6% of GDP in 2014. For 2015, panelists expect the current account deficit to be 3.3% of GDP.

Author: Angela Bouzanis, Senior Economist

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Brazil Current Account Chart

Brazil Current Account October 2014

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

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