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.