Brasília – Brazil ran a USD 494 million current account deficit in March, the Brazilian Central Bank reported this Thursday (25). The result is narrower than the USD 666 million deficit seen in March 2018.
Q1 current account deficit was USD 8,176 billion, down from USD 9 billion in Q1 2018.
“Although the trade surplus weakened from USD 6 billion to USD 4.5 billion, the deficits were narrower for the services account, going from USD 2.8 billion to USD 2.1 billion, and the primary income account (profits and dividends, interest and wage payments), from USD 4 billion to USD 3.3 billion,” a Central Bank report read.
In the 12 months through March, Brazil posted a USD 13.7 billion deficit (at 0.73% of GDP), not much different than the USD 13.9 billion result in the 12 months through February (0.74% of GDP).
Net FDI inflows came out to USD 6.8 billion in March, down from USD 7.8 billion in March 2018.
Translated by Gabriel Pomerancblum
