Brazil posts $14.51 billion current account deficit in 2018, 0.77 percent of GDP

January 28, 2019

SAO PAULO (Reuters) – Brazil posted a current account deficit of $815 million in December, bringing the total deficit for 2018 to $14.51 billion or 0.77 percent of gross domestic product over the year, the central bank said on Monday.

The deficit in 2018 was almost exactly double the $7.235 billion shortfall the year before, but below the central bank’s estimate of $17.6 billion. The deficit over the same period in 2017 was 0.35 percent of GDP.

Foreign direct investment in Brazil totaled $8.95 billion in December, raising the total for the year to $88.31 billion, the central bank said. Its estimate for FDI flows in 2018 had been $83 billion.

(Reporting by Jamie McGeever; Editing by Daniel Flynn)