Itaú BBA - Current account posts $664 million surplus in May

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Current account posts $664 million surplus in May

June 24, 2019

Over 12 months, the current account deficit remains at a historically low level: 0.7% of GDP.

For the version with all charts and tables, please open the attached pdf file.

The current account posted a surplus of $664 million in May, printing close to our forecast ($850 million) and market estimates ($700 million). The deficit accumulated over 12 months remains at a historically low level: 0.7% of GDP. For the next years, we maintain our expectation of a gradual increase in the current account deficit, but not to the point of compromising the sustainability of Brazil’s external accounts. Direct investment in the country is still the main source of financing for the current account deficit.


Thales Caramella


For the version with all charts and tables, please open the attached pdf file.



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