Brasília – The Brazilian current account deficit, i.e. negative result for the sum of goods and services purchase and sale transactions with other countries, reached US$ 2.596 in September, and US$ 34.123 billion year-to-date as of late September. The figures were disclosed this Tuesday (23rd) by the Central Bank. The deficit stood at US$ 2.234 billion in September 2011, and at US$ 36.675 billion year-to-date as of late September.
One of the items in the current account is the balance of services (international travel, transport, equipment rental, insurance and others), which recorded a US$ 3.459 billion deficit in September and a US$ 29.46 billion deficit year-to-date.
Profits and dividends remittances, interest payments and wages showed a US$ 1.823 billion deficit last month and a US$ 22.506 billion deficit year-to-date.
The trade balance, which concerns exports and imports, showed a US$ 2.556 billion surplus. Year-to-date as of late September, the surplus stood at US$ 15.724 billion.
Unilateral current transfers (donations and remittances of dollars between Brazil and other countries which do not concern services or goods) had a net inflow of US$130 million in September and US$ 2.119 billion year-to-date.
The Central Bank figures show that foreign direct investment (FDI), i.e. funds invested in the country’s productive sector, was more than sufficient to offset the current transaction deficit. in September, FDI stood at US$ 4.393 billion. Year-to-date, FDI reached US$ 47.576 billion.
From October 1st to 19th, FDI reached US$ 3.8 billion and is expected to amount to US$ 6 billion by the end of the month.
*Translated by Gabriel Pomerancblum
