Brazil Current Account

Brazil’s current account deficit widened to USD 4.9 billion in November 2025, from USD 4.4 billion a year earlier, in line with market expectations. The goods trade surplus narrowed to USD 5.1 billion from USD 6.0 billion, as exports rose 2.3% to USD 28.7 billion while imports increased faster, up 7.1% to USD 23.6 billion. The services deficit declined 11.8% to USD 4.5 billion. Meanwhile, the primary income deficit widened 6.4% to USD 6.2 billion, while secondary income increased by USD 176 million. Over the twelve months to November, the current account deficit reached USD 77.7 billion, equivalent to 3.47% of GDP, up from USD 77.2 billion (3.49%) in October and above the USD 61.5 billion (2.78%) recorded a year earlier.