Brazil Current Account Posted June Surplus of $1.3 Billion, July Deficit of $4.1 Billion

By Jeffrey T. Lewis

SAO PAULO--Brazil recorded a current-account surplus of $1.3 billion in June and a deficit of $4.1 billion in July, from a deficit of $3.5 billion in May, the country's central bank said Monday.

Brazil's central bank normally publishes current account figures for a given month toward the end of the following month. A three-month strike by workers at the bank that ended in early July delayed the release of the current account numbers, and several other regular economic reports. In August and now again in September, the bank published two months of reports at one time as it catches up.

The 12-month current-account deficit reached $33.6 billion in June and $36.6 billion in July, compared with $32.9 billion in May, the bank said.

The 12-month current-account deficit was equal to 1.92% of gross domestic product in June and 2.08% of GDP in July, versus 1.89% of GDP reported for May.

Net foreign direct investment reached $5.2 billion in June and $7.7 billion in July, compared with $4.5 billion in May, the bank said. FDI reached $64.5 billion for the 12 months through June and $65.6 billion for the 12 months through July, compared with $60.0 billion in the 12 months through May.

Write to Jeffrey T. Lewis at [e-mail]

(END) Dow Jones Newswires

09-26-22 0910ET