Brazil's current account deficit narrowed to USD 2.16 billion in November 2019 from USD 3.05 billion in the corresponding month of the previous year and better than market estimates of a USD 3.6 billion shortfall. It was the smallest monthly current account deficit since May, as the services gap fell to USD 2.07 billion from USD 2.88 billion in November 2018, mostly due to the reduction in net equipment rental expenses to USD 0.70 billion from USD 1.5 billion. Also, the primary income shortfall decreased to USD 2.92 billion from USD 3.91 billion, owing to the decline in net income and dividend expenses to USD 1.8 billion from USD 2.8 billion. In contrast, the goods surplus shrank to USD 2.78 billion from USD 3.58 billion, with exports and imports falling 15.9 percent and 14.5 percent, respectively; and the secondary income surplus fell to USD 0.04 billion from USD 0.16 billion a year ago. Current Account in Brazil averaged -1792.87 USD Million from 1980 until 2019, reaching an all time high of 3006.80 USD Million in July of 2006 and a record low of -13344.90 USD Million in January of 2014. source: Banco Central do Brasil

Current Account in Brazil is expected to be -7100.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Brazil to stand at 230.00 in 12 months time. In the long-term, the Brazil Current Account is projected to trend around -2800.00 USD Million in 2020, according to our econometric models.

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Brazil Current Account

Actual Previous Highest Lowest Dates Unit Frequency
-2164.00 -7900.00 3006.80 -13344.90 1980 - 2019 USD Million Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-09-23 01:30 PM Aug $-4.27B $-9.69B $-3.96B $-5.9B
2019-10-24 01:30 PM Sep $-3.5B $-4.31B $-3.95B $-4B
2019-11-25 12:30 PM Oct $-7.9B $-4.1B $-5.475B $-3.8B
2019-12-20 12:30 PM Nov $-2.164B $-7.9B $-3.6B $-6.5B
2020-01-27 12:30 PM Dec $-2.164B $-7.1B


News Stream
2019-11-25
Brazil Current Account Gap Widens Sharply in October
Brazil’s current account deficit widened sharply to USD 7.87 billion in October 2019 from USD 1.96 billion in the corresponding month of the previous year and compared with market forecasts of a USD 5.48 shortfall. The goods surplus narrowed to USD 0.49 billion from USD 5.35 billion in October 2018 and the services gap increased to USD 3.58 billion from USD 3.32 billion. Also, the primary income deficit rose to USD 4.86 billion from USD 4.13 billion and the secondary income surplus decreased to USD 0.07 billion from USD 0.14 billion a year earlier.

2019-10-25
Brazil Current Account Gap Widens
Brazil’s current account deficit widened to USD 3.49 billion in September 2019 from USD 0.19 billion in the same month of the previous year and compared with market expectations of a USD 3.95 billion shortfall. The primary income gap rose to USD 2.65 billion from USD 2.48 billion in September 2018 and the services deficit jumped to USD 2.73 billion from USD 2.49 billion. In addition, the goods surplus narrowed sharply to USD 1.68 billion from USD 4.70 billion while the secondary income surplus went up to USD 0.21 billion from USD 0.77 billion.

2019-09-23
Brazil Current Account Gap Widens in August
Brazil's current account deficit widened to USD 4.27 billion in August 2019 from USD 1.76 billion in the corresponding month of the previous year and compared with market expectations of a USD 3.96 billion shortfall. The primary income gap increased sharply to USD 4.73 billion from USD 1.04 billion a year earlier. Meanwhile, the goods surplus rose to USD 2.66 billion from USD 2.33 billion, as imports dropped 16 percent while exports fell at a slower 12.7 percent. Additionally, the services gap narrowed to USD 2.46 billion from USD 3.23 billion and the secondary income surplus went up to USD 0.25 billion from USD 0.18 billion. Considering the first eight months of the year, the country recorded a USD 30.28 billion current account shortfall, compared to a USD 18.37 billion deficit in the same period of 2018.

2019-08-26
Brazil Current Account Gap Largest in Over 4 Years
Brazil's current account deficit widened to a USD 9.04 billion in July 2019 from USD 4.40 billion in the same month of the previous year and compared with market forecasts of a USD 5.903 billion gap. It was the largest current account shortfall since January 2015, as the goods surplus narrowed to USD 1.60 billion from USD 3.55 billion a year earlier, as exports fell 11.1 percent while imports declined a softer 2.9 percent. Also, the primary income gap rose to USD 7.93 billion from USD 5.12 billion. On the other hand, the services shortfall declined to USD 2.96 billion from USD 3.01 billion in July 2018 and the secondary income surplus went up to USD 0.25 billion from USD 0.19 billion. Considering the first seven months of the year, the country recorded a USD 21.68 billion current account deficit, compared to a USD 4.40 billion gap in the corresponding period of last year.

2019-07-25
Brazil Current Account Balance Swings to Deficit
Brazil's current account balance shifted to a USD 2.91 billion deficit in June 2019 from a USD 0.16 billion surplus in the corresponding month of the previous year and compared with market expectations of a USD 1.5 billion shortfall. The goods surplus narrowed to USD 4.30 billion from USD 5.51 billion a year earlier, as exports dropped 10.8 percent namely soy and manufactured goods sales to Argentina and imports fell 6.7 percent. Additionally, the services gap widened to USD 3.28 billion from USD 2.98 billion, mostly due to intellectual property; and the primary income shortfall rose to USD 4.12 billion from USD 2.54 billion. Meanwhile, the secondary income surplus increased slightly to USD 0.19 billion from USD 0.18 billion. Considering the first half of the year, the country recorded a USD 10.55 billion current account gap, compared to a USD 8.0 billion shortfall in the same period of 2018.

2019-06-24
Brazil Current Account Surplus Narrows in May
Brazil's current account surplus narrowed to USD 0.66 billion in May 2019 from USD 0.90 billion in the corresponding month of the previous year. The services deficit widened to USD 2.99 billion from USD 2.73 billion a year earlier and the primary income shortfall increased to USD 2.48 billion from USD 2.17 billion. On the other hand, the goods surplus rose to USD 5.69 billion from USD 5.56 billion in May 2018 and the secondary income surplus advanced to USD 0.45 billion from USD 0.24 billion.


Brazil Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Brazil Trade Last Previous Highest Lowest Unit
Balance of Trade 5599.40 3427.32 7660.98 -4068.90 USD Million [+]
Current Account -2164.00 -7900.00 3006.80 -13344.90 USD Million [+]
Current Account to GDP -0.77 -0.35 1.80 -8.20 percent [+]
Imports 12555.49 14168.71 23049.60 67.00 USD Million [+]
Exports 18154.88 17596.03 26148.24 75.06 USD Million [+]
External Debt 668221.21 674076.28 714260.45 64259.50 USD Million [+]
Terms of Trade 107.30 109.68 132.65 64.67 points [+]
Capital Flows -2248.70 -6376.20 2919.60 -13679.20 USD Million [+]
Foreign Direct Investment 6985.41 6814.52 16274.73 -103.33 USD Million [+]
Remittances 262.10 257.30 386.00 70.80 USD Million [+]
Gold Reserves 67.36 67.36 119.01 31.99 Tonnes [+]
Crude Oil Production 2927.00 2989.00 2989.00 330.00 BBL/D/1K [+]
Terrorism Index 2.53 1.39 2.69 0.00 [+]
Weapons Sales 111.00 47.00 267.00 1.00 USD Million [+]
Tourist Arrivals 6621.00 6589.00 6621.00 1991.00 Thousand [+]