São Paulo – Brazil posted a record-high current account surplus at USD 5.663 billion, the Brazilian Central Bank said on Wednesday (26). A year ago, the surplus had reached USD 199 million.
The result was mainly driven by the record-high performance of the trade balance, which posted a USD 9.145 billion surplus in April, a result that was fueled by the recent rise in prices of commodities such as iron ore and foodstuffs.
There has also been an increase in foreign direct investment in the country, which reached USD 3.544 billion in April, up from USD 1.632 billion a year ago.
April’s current account surplus was also benefited by a reduction in the primary income deficit (profits and dividends). In April 2021, it ran a USD 2.37 billion deficit, down 37.7% year-on-year.
Twelve months through April
In the 12 months through April, the current accounts ran a USD 12.4 billion deficit, which amounts to 0.84% of the gross domestic product (GDP), down from 1.23% the previous month, when it stood at USD 17.9 billion.
Translated by Guilherme Miranda
