Brasília – The Brazilian foreign account showed a US$ 6.8 billion deficit in November, resulting in a year-to-date deficit of US$ 45.83 billion, as against US$ 43.86 billion in the same period of last year. Still, the balance of payments in foreign accounts ran a US$ 1.2 billion surplus in November, as a result of strong net inflow of foreign direct and portfolio investment, at US$ 7.5 billion.
The figures, disclosed this Tuesday (20th) by the Central Bank’s Economic Department, show that net remittances of income to foreign countries reached US$ 4.7 billion in November, a figure 89% higher than in November 2010. The services account, which comprises spending on international travels, transport, equipment rental, insurance and royalties, added US$ 2.8 billion to the current transaction deficit.
According to the External Sector Report for November, Brazilians spent US$ 1.564 billion in foreign countries, nearly the same figure as in November 2010 – US$ 1.517 billion. Foreigners spent US$ 587 million in Brazil – slightly higher than in November 2010, when foreigner spending in Brazil stood at US$ 560 million. As a result, net spending stood at US$ 977 million. Spending by Brazilians abroad grew by 2.1%, whereas foreigner spending in Brazil increased by 4.9%.
*Translated by Gabriel Pomerancblum
