Brazil’s current account deficit drops to 2.78% of the GDP

This figure represented an improvement from January, when the deficit recorded in the current account balance was 2.92% of GDP.

A country’s current account deficit occurs when the sum of the balance of trade and services and unilateral transfers in the balance of payments shows a negative result.

In February, Brazil’s current account deficit was US$2.8 billion, a 33.3% improvement over the same month last year.

In the trade balance, a monthly surplus of US$2.5 billion was recorded, and foreign direct investment in February was US$6.4 billion, down 38.9% compared to last year.

Meanwhile, the country’s international reserves showed a slight contraction of 0.87% compared to January 31, at US$328.1 billion at the end of February, a reduction of US$3 billion.

With information from Lusa