Brazil’s current account deficit widened to USD 6.55 billion in January 2019 from USD 6.29 billion in the same month of the previous year and compared with market expectations of a USD 6.348 billion gap. It was the largest current account shortfall since February 2015, as the goods surplus narrowed to USD 1.63 billion from USD 2.40 billion in January 2018 and the secondary income surplus declined to USD 0.17 billion from USD 0.20 billion. Meanwhile, the services shortfall fell to USD 2.56 billion from USD 2.79 billion and the primary income gap decreased to USD 5.79 billion from USD 6.10 billion. Current Account in Brazil averaged -1668.34 USD Million from 1980 until 2019, reaching an all time high of 3104.70 USD Million in May of 2017 and a record low of -13345 USD Million in January of 2014.
Current Account in Brazil is expected to be -4100.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Brazil to stand at -4350.00 in 12 months time. In the long-term, the Brazil Current Account is projected to trend around -4400.00 USD Million in 2020, according to our econometric models.