*Brazil’s central bank (BCB) has released its latest figures for the country’s balance of payments, showing a current account deficit of US$5.8bn in December 2023, down from the US$7.5bn in December 2022 but up from the US$1.6bn registered for the previous month. The current account deficit for 2023 totalled US$28.6bn (1.32% of GDP), which marks a decrease from the US$48.3bn (2.47% of GDP) registered for 2022. A surplus of US$7.3bn was registered for the trade balance of goods in December, bringing the annual trade balance to US$80.5bn, a significant increase from the US44.2bn trade surplus in 2022. Foreign direct investment (FDI) in 2023 totalled US$62.0bn (2.85% of GDP), down from the US$74.6bn registered for 2022.
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LatinNews Daily - 06 February 2024
In brief: Brazil’s current account deficit sees annual drop
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