LatinNews Daily - 04 January 2024

*Brazil’s central bank (BCB) has released the figures for the country’s balance of payments in November, which showed a current account deficit of US$1.6bn. This is an increase on the US$230m deficit in October but marks a slight yearly decrease from US$1.7bn. The accumulated deficit in the 12 months until November stood at US$33.7bn (1.56% of GDP), down from 1.59% in October and 2.59% in November 2022. The trade balance of goods registered a surplus of US$6.7bn, showing a year-on-year increase on the US$4.7bn surplus in November 2022. Foreign direct investment (FDI) totalled US$7.8bn in November, showing a monthly increase from US$3.3bn and a yearly increase from US$7.6bn. However, the yearly rises in the trade surplus and FDI were not enough to offset the deficits in other payments, such as the service deficit, which came to US$3.6bn, up year-on-year from US$2.6bn.