Brazil: Current account posts larger deficit in December
Latest reading: The current account recorded a USD 9.0 billion deficit in December, deteriorating from the USD 3.2 billion deficit recorded in November (December 2023: USD 5.6 billion deficit). Accordingly, the 12-month trailing current account deficit widened, coming in at USD 56.0 billion in December (November: USD 52.5 billion deficit).
The merchandise trade balance deteriorated from the previous month, recording a USD 4.8 billion surplus in December (November 2024: USD 6.9 billion surplus). Merchandise exports sank 13.5% year on year in December (November: -0.2% year on year). December’s figure marked the sharpest decline since March. Meanwhile, merchandise imports increased 3.3% over the same month last year in December (November: +9.8% yoy), marking the weakest reading since May 2024.