Brazil: Current account posts narrower deficit in October
Latest reading: The current account recorded a USD 5.9 billion deficit in October, improving from the USD 6.9 billion deficit clocked in September (October 2023: USD 0.5 billion surplus). Meanwhile, in the 12 months leading up to October, the current account recorded a USD 49.2 billion deficit, compared to the USD 42.8 billion deficit posted in September.
The merchandise trade balance deteriorated from the previous month, recording a USD 4.3 billion surplus in October (September 2024: USD 5.0 billion surplus). Merchandise exports contracted 0.7% over the same month last year in October (September: -1.0% year on year). Meanwhile, merchandise imports climbed 22.5% in annual terms in October (September: +19.8% yoy).