Brazil Current Account June 2018

Brazil

Brazil: Current account surplus narrows in June

July 26, 2018

Brazil’s current account balance came in at a surplus of USD 435 million in June, below the USD 1.3 billion surplus registered in the same month last year.

The narrower current account surplus was primarily due to a lower trade balance, which came in at USD 5.9 billion in June (June 2017: USD 7.2 billion). Soaring import growth was chiefly behind the lower trade balance, after a truckers’ strike had disrupted economic activity in May. Foreign direct investment came in at USD 6.5 billion in June, above June 2017’s USD 4.0 billion.

The 12-month accumulative current account deficit widened in June to USD 13.9 billion from May’s USD 13.0 billion deficit. June’s result represented approximately 0.7% of GDP.

Analysts who participated in this month’s LatinFocus Consensus Forecast expect a current account deficit of 1.0% of GDP in 2018. For 2019, panelists expect the current account deficit to widen to 1.6% of GDP.


Author: Angela Bouzanis, Lead Economist

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Brazil Current Account Chart


Brazil Current Account June 2018

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


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