The trade balance recorded a surplus of US$7.6 billion, a sharp increase compared to the surplus of US$2.6 billion recorded in the same month of 2022.
He Brazil current account deficit in August it plunged 89% compared to the same period last year, helped by a solid trade surplus, Central Bank data showed on Monday. This is key information for Argentina given that it is our country’s main trading partner.
He Deficit for the month of the Latin American giant amounted to $778 millionmarking the best result for August since 2020.
The trade balance recorded a surplus of $7.6 billion, a sharp increase from the $2.6 billion surplus recorded in the same month of 2022, supported by a slight 0.8% rebound in exports, while imports fell 16.8%.
Brazil: services and current account deficit
Contributing to the general improvement were reductions in the services deficit, which decreased by US$869 millionand the deficit of payments for factors of production, which contracted by US$504 million, according to the Central Bank.
Taking into account the results of August, the current account deficit in the 12-month period decreased to US$45.3 billion, equivalent to 2.21% of GDP, compared to 2.54% in July.
The IForeign direct investment reached US$4.3 billion in Augusta figure much lower than the 10,000 million a year ago, according to the Central Bank.
The Central Bank also noted that portfolio investors withdrew a net total of $807 million from Brazilian markets in August. These withdrawals included $2.3 billion from stocks and mutual funds, offset by inflows of $1.5 billion in bonds.
Source: Ambito
