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.