Brazil Current Account

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Brazil: Current account deficit worsens in September

October 24, 2014

In September, the current account balance registered a deficit of USD 7.9 billion, which was a deterioration from the 2.8 billion deficit recorded in the same month last year. The gap exceeded market expectations of a USD 7.3 billion deficit.

The trade balance registered a shortfall of USD 900 million in September, which was a significant deterioration from the USD 2.0 billion recorded in September 2013. In addition, the services and income balance tallied a USD 7.1 billion deficit in September, which was a larger shortfall compared to the USD 4.9 billion posted in the same month last year.

The moving 12-month current account deficit worsened from August’s USD 78.4 billion to USD 83.6 billion, 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, which is unchanged from last month’s forecast. 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 September 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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