Brazil posted a current account surplus in May of $729 million, the fourth monthly surplus in a row, the Brazilian Central Bank said Monday. The surplus helped to pull down Brazil’s 12-month current account deficit to $13 billion. Current account performance was aided by a robust monthly trade surplus of $5.6 billion, which outweighed deficits in areas such as international travel and profit and dividend remittances. But foreign direct investment in May of only $2.98 billion was a disappointment. FDI for the first five months of the year averaged more than 4.7 billion. Economists said the downturn in FDI may be a reflection of investor caution ahead of October elections.
Link to Central Bank releaseMore Testimonials