Brazil records the sixth straight monthly current account surplus

The current account in Brazil posted a surplus of USD 2.3bn in September 2020, the sixth positive result in a row, reflecting the resilience of exports and the subdued domestic demand amid the COVID-19 pandemic. The trade surplus increased to USD 5.36bn in September 2020, compared to USD 3.23bn a year earlier. 

The services balance posted a deficit worth USD 1.62bn in September 2020, compared to USD 2.51bn in September 2019, as the demand for services stays suppressed, particularly in the hospitality sector. In addition, the foreign companies’ profits also declined, pushing the income deficit to USD 1.63bn from USD 3.73bn in September 2019. 

Further data and analysis on Brazil’s economy could be found on the CEIC Brazil Economy in a Snapshot – Q3 2020 report.