Brazil external accounts see surplus of $3.84 bi in May
Brazil’s external accounts saw a positive balance of $3,840 billion in May, as per data released today (Jun. 25) by the country’s Central Bank. In May 2020, impacted as the month was due to the COVID-19 pandemic, a deficit was reported at $519 million in current transactions, which are sales and purchases of goods and services and income exchange with other countries.
For the 12-month period ending in May, a $8.367 billion deficit was registered in current transactions, 0.55 percent of the country’s gross domestic product (GDP), compared to the negative balance of $12.726 billion (0,86 percent of the GDP) in April 2021 and a deficit of $65.155 billion (3,85 percent of the GDP) in the equivalent period ending in May 2020.
Year to date, the deficit stands at $6.213, against a negative balance of $21.921 from January to May 2020.
Balance of trade and services
According to the Central Bank, exports of goods totaled a record high $27,152 billion in May, up 54.4 percent from the same month in 2020. Imports added up to $19,023 billion, an increase of 31,9 percent compared to May last year. These results bring the trade of balance to a surplus of $8,129 billion last month, against a positive $3,154 billion in May 2020.
The deficit in the services account (international travel, transport, equipment lease, among others) kept its downward trajectory and reached $1,646 billion in May, compared to $1.527 billion in the same month in 2020.
Under international travel, revenues from foreigners traveling in Brazil totaled $195 million, whereas expenses by Brazilians overseas stood at $334 million. This brings the travel account to a deficit of $139 million, compared to a deficit of $87 million in May 2020.
For June 2021, the estimate made by the Central Bank for the result in current transactions is a surplus of $6.5 billion, whereas the forecast for direct investment into the country is a net $2.5 billion.
