*Brazil’s central bank (BCB) has released its latest figures for the country’s balance of payments, showing a current account deficit of US$3.4bn in May. This is higher than the US$2.5bn deficit registered in April, while May 2023 saw a surplus of US$1.1bn. The accumulated current account deficit in the 12 months until May 2024 came to US$40.1bn (1.79% of GDP), down from the US$45.3bn deficit (2.24% of GDP) in the previous 12-month period. The trade balance of goods in May saw a surplus US$6.4bn, down from the US$9.3bn surplus in May last year. Foreign direct investment (FDI) also saw a year-on-year decrease, from US$4.4bn last year to US$3.0bn in May this year.
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LatinNews Daily - 25 June 2024
In brief: Brazil’s current account deficit up in May
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