03/01/2024 – 9:03
The result of current transactions was negative in November this year, at US$ 1.553 billion, the Central Bank (BC) reported this Wednesday, 3rd. This is the best performance for November since 2016, when the balance was negative at US$878.5 million. In October, the result was a deficit of US$ 230 million.
The current account number in November was much worse than the median of the survey carried out by Projeções Broadcast, which pointed to a deficit of US$500 million. The range went from a deficit of US$2.90 billion to a surplus of US$3.20 billion.
According to the Central Bank's methodology, the trade balance registered a positive balance of US$6.673 billion in November, while the services account was negative at US$3.552 billion. The primary income account was also in deficit, at US$4.650 billion. In the case of the financial account, the result was negative at US$ 1.664 billion.
Accumulated
In the year up to November, the current account had a deficit of US$22.200 billion. In 12 months, the current account balance is negative at US$33.655 billion, which represents 1.56% of the Gross Domestic Product (GDP).
The BC's current estimate is a current account deficit of US$26 billion in 2023, according to the December Quarterly Inflation Report (RTI).
Profits and dividends
The profits and dividends item in the balance of payments showed a negative balance of US$3.677 billion in November, reported the Central Bank. The net outflow is higher than the US$3.140 billion that left Brazil in the same month of 2022, already discounting inflows. The BC also reported that external interest expenses totaled US$1.014 billion in November, compared to US$882 million in the same month last year.
In the year up to November, the balance of profits and dividends is negative at US$40.159 billion and interest expenses are US$22.632 billion.
International travel
The international travel account recorded a deficit of US$527 million in November. The value reflects the difference between what Brazilians spent abroad and what foreigners spent in Brazil during the period. In November 2022, the deficit in this account was US$641 million.
The performance of the international travel account in November was determined by Brazilian expenses abroad, which totaled US$1.143 billion. Spending by foreigners on trips to Brazil was US$616 million in November.
In 2023, the net balance of the travel account was negative at US$7.164 billion. In the same period of 2022, the deficit in this account was US$6.658 billion.
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