Current Account in Brazil
Brazil - Current Account
Current account swings to deficit in May
Brazil’s current account recorded a USD 3.5 billion deficit in May, deteriorating from the USD 2.5 billion surplus recorded in May last year, and from the USD 1.1 billion surplus clocked in April 2022.
May’s result chiefly reflected a smaller surplus in trade goods compared to May 2021. Additionally, the services account shortfall widened compared to the same month last year, as did the primary income account deficit. Meanwhile, net foreign investment was positive in the month, totaling USD 4.5 billion in inflows (May 2021: USD +2.2 billion)
Accordingly, the 12-month sum of the current balance widened to a USD 32.9 billion deficit from the USD 26.8 billion shortfall recorded in April. This was equivalent to approximately 1.9% of GDP (April: approximately 1.6% of GDP).
The LatinFocus Consensus Forecast projects a current account deficit of 0.9% of GDP in 2022. For 2023, panelists foresee the current account deficit at 1.5% of GDP.
Brazil - Current Account Data
|Current Account (% of GDP)||-3.0||-1.3||-0.7||-2.2||-2.7|
5 years of economic forecasts for more than 30 economic indicators.
Brazil Current Account Chart
Source: Central Bank of Brazil and FocusEconomics calculations.
|Bond Yield||6.79||-0.82 %||Dec 31|
|Exchange Rate||4.02||-0.13 %||Jan 01|
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