Brasil Actividad económica April 2023

Brasil: Current account swings to deficit in April

Brazil’s current account recorded a USD 1.7 billion deficit in April, swinging from the USD 0.1 billion surplus posted in the same month last year and from the USD 0.1 billion surplus clocked in March.

April’s result chiefly reflected a decline in net foreign investment, which in April this year totaled USD 3.3 billion in inflows (April 2022: USD +11.1 billion). Meanwhile, the services account deficit was largely stable from the same month last year. More positively, the goods trade balance posted a marginally higher surplus compared to April last year.

Meanwhile, the 12-month sum of the current account balance widened to USD 54.2 billion in April from the USD 44.6 billion shortfall recorded in April 2022.