Current account deficit widens in May

The current account posted a USD 3.4 billion deficit in May, widening from the USD 2.9 billion deficit recorded in April (May 2023: USD 1.1 billion surplus). Meanwhile, the 12-month trailing current account deficit also widened, coming in at USD 40.1 billion in May (April: USD 35.7 billion deficit). The merchandise trade balance deteriorated slightly from the previous month, recording a USD 8.5 billion surplus in May (April 2024: USD 8.7 billion surplus). Merchandise exports declined 7.1% on an annual basis in May (April: +12.9% year on year). Meanwhile, merchandise imports increased 0.5% in annual terms in May (April: +14.4% yoy).

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Brazilian merchandise imports projections for the next ten years from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise imports forecast available for Brazilian merchandise imports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Brazilian merchandise imports projections.

Want to get access to the full dataset of Brazilian merchandise imports forecasts? Send an email to info@focus-economics.com.