Brazil: Current account deficit halves in November
Latest reading: The current account recorded a USD 3.1 billion deficit in November, improving from the USD 6.0 billion deficit recorded in October (November 2023: Balanced current account). Meanwhile, the 12-month trailing current account deficit widened, coming in at USD 52.4 billion in November (October: USD 49.4 billion deficit).
The merchandise trade balance improved from the previous month, recording a USD 7.0 billion surplus in November (October 2024: USD 4.2 billion surplus). Merchandise exports rose 0.5% on an annual basis in November, on the heels of October’s 1.3% drop. Meanwhile, merchandise imports climbed 9.9% over the same month last year in November (October: +22.5% yoy), marking the weakest reading since May.