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

Related coverage: Brazil's tax reform: what to expect · Brazil: without Lula, Rousseff travels to China and takes office as president of the BRICS bank · Brazil to end multimillion-dollar budget deficit from 2024, says planning minister · Brazil's Lula reaches three months in office mired in multiple crises; find out what they are

More: Brazil news in English, every day from The Rio Times.

Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error