Brazil: Current account records smaller deficit in April
The current account recorded a USD 2.5 billion deficit in April, improving from the USD 4.8 billion deficit recorded in March (April 2023: USD 0.2 billion deficit). Meanwhile, the 12-month trailing current account deficit widened, coming in at USD 35.3 billion in April (March: USD 33.0 billion deficit).
The merchandise trade balance improved from the previous month, recording a USD 9.0 billion surplus in April (March 2024: USD 7.2 billion surplus). Merchandise exports rebounded, jumping 14.1% over the same month last year in April (March: -15.5% year-on-year). Similarly, merchandise imports also rebounded, soaring 14.3% on an annual basis in April (March: -7.1% yoy).