Brazil posted a current account surplus in March of $798 million, the second monthly surplus in a row, the Central Bank said Wednesday. The surplus in February was $290 million. Brazil’s current account gap has been slowly shrinking since 2016 and could reach zero later this year or early in 2019. The 12-month current account deficit as of March was $8.3 billion. March performance was aided by a hefty trade surplus of $5.97 billion, which counterbalanced negative figures in travel and profit and dividend remittances. The March gap was more than made up by foreign direct investment, which reached $6.5 billion for the month and $64.3 billion for the twelve months through March.
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