Brasília – Brazil current account registered a USD 662 million surplus in May, as of data released this Monday (25) by the Central Bank of Brazil (BC). In May last year, it had posted a USD 900 million surplus.
According to BC Department of Statistics head Fernando Rocha, positive results are common in May due to an increase in agricultural exports, which leads to an increase in the trade surplus. “Exports of agricultural goods, such as soy, are higher. It’s when most of the shipments occur,” said Rocha.
Year-to-date through May, however, the country shows a USD 7.576 billion current account deficit, over USD 8.162 billion in the same period last year.
The trade balance posted a USD 5.686 billion in May and reached USD 20.585 billion year-to-date.
Year through May, the negative result of current accounts was fully covered by foreign direct investment (FDI) in the country, which reached USD 35,137 billion. In May, this investment reached USD 7.07 billion.
Translated by Guilherme Miranda
