Brazil Current Account May 2019


Brazil: Current account surplus shrinks in May

June 24, 2019

Brazil’s current account balance came in at a surplus of USD 662 million in May, below the USD 900 million surplus recorded in the same month of 2018.

The result reflected a larger deficit in the services account, meanwhile soaring export growth pushed the trade balance up to USD 5.7 billion (May 2018: USD 5.5 billion). Foreign direct investment came in at USD 7.1 billion in May, over doubling May 2018’s USD 3.0 billion.

The 12-month trailing current account deficit widened slightly from USD 13.7 billion in April to USD 13.9 billion in May. The result is equal to approximately 0.8% of GDP.

Analysts who participated in this month’s LatinFocus Consensus Forecast expect a current account deficit of 1.2% of GDP in 2019. For 2020, 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 May 2019

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

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