Brasília – Brazilians are still spending more abroad. Last year, expenses of Brazilians abroad totalled US$ 16.422 billion, a historic record, according to the Central Bank. In 2009, this result reached US$ 10.898 billion. In December last year alone, expanses of Brazilians reached US$ 1.726 billion, expanding the deficit in the service account and in the balance of payments of Brazil.
In general, in 2010, the service account generated outflow of US$ 31.1 billion, growth 61.4% in comparison with 2009. "In the case of services, the main item for deterioration [of foreign accounts] was international travels. The most elevated balance in the series is connected to circumstances, with improvement of income and employment," said the head of the Economic department at the Central Bank, Altamir Lopes.
Net expenses with transport generated a deficit of US$ 6.4 billion last year, as against US$ 3.9 billion in 2009, a result related to the growth of bilateral trade [exports and imports]. Net expenses with rent of equipment totalled US$ 13.7 billion, growth of 45.7% in the same comparison. In this case, the result is due to the growth of the Brazilian economy.
Net transfer of royalties and licenses totalled US$ 2.5 billion in 2010, with growth of 18%. There was a US$ 3.3 billion deficit in computer and information services, 27.4% more than in the previous year. Other services registered net inflow of US$ 7.7 billion in 2010, as against US$ 7.2 billion in 2009.
The Central Bank also informed that Brazil ended 2010 with international reserves of US$ 288.6 billion and the foreign debt totalled US$ 255.7 billion.
Also on Tuesday (25), the Central Bank disclosed that the current account transactions of Brazil totalled US$ 3.493 billion in December 2010, accumulating a deficit of US$ 47.518 billion in the year, equivalent to 2.28% of the Gross Domestic Product (GDP). The result is the largest in the historic series in nominal terms. The deficit last year was practically double that registered in the twelve months of 2009 (US$ 24.3 billion or 1.52% of GDP).
The deficit, however, was covered by foreign direct investment, which was also record in the period.
*Translated by Mark Ament
