Brasília – The stronger US dollar caused spending by Brazilians on international trips to drop by almost half (46.99%) in September from a year ago. The Brazilian Central Bank (BC) reported this Friday (23rd) that spending reached USD 1.26 billion. The number is the lowest ever for the month since the BC started keeping track of results anew, in January 2010.
From January to September, spending reached USD 14.139 billion, down 27.78% from USD 19.579 billion a year ago.
Spending by foreigners in trips to Brazil remained flat in September from a year ago, at USD 486 million. Year-to-date through September, they spent USD 4.333 billion, down 18.99% from USD 5.349 billion a year ago.
The result was a USD 774 million international travel account deficit, and a USD 9.806 billion deficit year-to-date through September.
Overall, Brazil’s current account balance – i.e. purchases and sales of services and goods – had a USD 3.076 billion deficit in September and a USD 49.362 billion deficit in the nine months through September.
In September, foreign direct investment (FDI) inflows to Brazil amounted to USD 6.037 billion, driving the year-to-date total to USD 48.211 billion. FDI in the month was more than enough to offset the current account deficit, but not so with the year-to-date number.
*With information from the ANBA Newsroom. Translated by Gabriel Pomerancblum
