*Brazil’s central bank (BCB) has released its latest figures for the country’s balance of payments, which shows a monthly current account deficit of US$9.0bn in December 2024 and an annual deficit of US$56.0bn (2.55% of GDP). This latest monthly deficit marks an increase from US$5.6bn in December 2023, while the annual figure also saw a significant rise from 2023, when the annual deficit was US$24.5bn (1.12% of GDP). Brazil’s trade balance of goods also showed a lower annual surplus. In 2024, the trade surplus totalled US$66.2bn, down 28.2% from 2023. However, foreign direct investment (FDI) in 2024 saw an annual increase, totalling US$71.1bn (3.24% of GDP), up 13.8% compared to 2023.
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LatinNews Daily - 27 January 2025
In brief: Brazil’s current account deficit widens in 2024
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