Brazil: Current account deficit widens in November
The current account recorded a USD 1.6 billion deficit in November, deteriorating from the balanced result tallied in October (November 2022: USD 1.7 billion deficit). Meanwhile, in the 12 months leading up to November, the current account posted a USD 33.7 billion deficit, compared to the USD 33.8 billion deficit recorded in October.
The merchandise trade balance deteriorated from the previous month, recording a USD 8.8 billion surplus in November (October 2023: USD 9.1 billion surplus). Merchandise exports rose 0.6% over the same month last year in November (October: +10.4% year on year). Meanwhile, merchandise imports dived 11.2% on an annual basis in November (October: -12.6% yoy).