Economy

Brazil foreign accounts see $3.5 bi deficit in May

The balance for the 12-month period stands at minus $32.9 billion

Pedro Peduzzi

Published on 26/08/2022 - 15:57

Brasília

Dólar — © Valter Campanato/Agência Brasil

Brazilian foreign accounts showed a $3.5 billion deficit in May. In the same month last year, the balance had been a $2.5 billion surplus. The outcome stems from purchases and sales of goods, services, as well as revenue exchange between Brazil and other nations.

According to figures released today (Aug 26) by the Central Bank, year on year, “a reduction of $3.9 billion [was observed] in the balance of trade for goods, in addition to $743 million and $1.4 billion increases in the deficits for services and for primary income, respectively.”

In the 12-month period ending in May, the outcome was a deficit of $32.9 billion—1.89 percent of Brazil’s GDP. In the 12 months ending in April, the amount was $26.8 billion (1.57 percent of GDP), compared to $19.1 billion (1.3 percent of the GDP) in May 2021.