International Reserves in Brazil

Brazil International Reserves | Economic News & Forecasts

Brazil - International Reserves

Current account deficit more than doubles in August

Brazil’s current account balance came in at a deficit of USD 4.3 billion in August, over double the USD 1.7 billion shortfall recorded in the same month of 2018. The result was a larger shortfall then market analysts’ expectations of a USD 4.0 billion deficit.

The result reflected a jump in the primary income deficit to USD 4.7 billion (August 2018: USD 1.0 billion deficit), amid greater remittances sent abroad and outflows from investment a drop-in reinvestment in the country. Meanwhile, the trade surplus widened coming in at USD 3.2 billion in August, up from the USD 2.8 billion recorded in the same month last year. That said, the widening was on the back of plunging imports and exports also recorded a significant drop. Meanwhile, foreign direct investment fell slightly but still remained solid, coming in at USD 9.5 billion in August (August 2018: USD 9.7 billion).

Along with August’s release, the Central Bank revised historical balance of payments statistics and updated its methodology for calculating some cross-border flows. This led to a notable revision in the current account deficit in for 2017, 2018 and 2019. Accordingly, the 12-month trailing current account deficit came in at USD 33.9 billion in August, widening from July’s revised USD 31.3 billion (previously reported: USD 22.1 billion). The result is equal to approximately 1.7% of GDP.

Our panelists are still taking into account the most recent revisions. The latest LatinFocus Consensus Forecast projects a current account deficit of 1.4% of GDP in 2019. For 2020, panelists expect the current account deficit to widen to 1.6% of GDP.

Brazil - International Reserves Data

2013  2014  2015  2016  2017  
International Reserves (USD)359  364  356  365  374  

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Brazil International Reserves Chart

Brazil International Reserves
Note: International reserves in months of imports.
Source: Central Bank of Brazil and FocusEconomics calculations.

Brazil Facts

Bond Yield7.30-0.82 %Sep 04
Exchange Rate4.10-0.13 %Sep 04
Stock Market101,201-0.40 %Sep 04

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