Brazil's current account deficit narrowed to USD 1.14 billion in February 2019 from USD 2.04 billion in the same month of the previous year and below market expectations of a USD 0.383 billion surplus. The goods surplus widened to USD 3.16 billion from USD 2.66 billion a year earlier and the services gap declined to USD 2.06 billion from USD 2.63 billion. On the other hand, the primary income shortfall rose to USD 2.41 billion from USD 2.27 billion and the secondary income surplus went down to USD 0.17 billion from USD 0.20 billion. Current Account in Brazil averaged -1667.22 USD Million from 1980 until 2019, reaching an all time high of 3104.70 USD Million in May of 2017 and a record low of -13345 USD Million in January of 2014.
Current Account in Brazil is expected to be 2000.00 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 -4350.00 in 12 months time. In the long-term, the Brazil Current Account is projected to trend around -4400.00 USD Million in 2020, according to our econometric models.