Brazil's foreign trade deficit grows tenfold in April
"Brazil posted a deficit in foreign transactions of $2.5 billion (2.3 billion euros) in April, an amount ten times higher than in the same period of 2023, the country's Central Bank reported today."
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Economia Brasil
In April 2023, the South American country's external transaction deficit totaled $247 million (€252.5 million).
The deficit in Brazilian current transactions in the 12 months ending in April 2024 totaled $35.3 billion (€32.5 billion), or 1.57% of the country's Gross Domestic Product (GDP), compared to $33 billion (€30.4 billion), or 1.48% of GDP, reported in the previous month and $50.6 billion (€46.6 billion), or 2.52% of GDP, in April 2023.
Brazil's trade surplus in goods reached $6.8 billion (€6.3 billion) in April 2024, a lower result than the $7.4 billion (€6.8 billion) surplus in April 2023.
Goods exports totaled $31.4 billion (€28.9 billion) and goods imports totaled $24.6 billion (€22.6 billion), corresponding to increases of 11.7% and 18.6% year-over-year.
Foreign direct investment in the country (FDI) registered net revenue of $3.9 billion (€3.6 billion) in April, against $3.1 billion (€2.8 billion) in April 2023.
In the 12-month period, foreign direct investment in Brazil totaled $67.3 billion (€62 billion or 3.01% of GDP) in April 2024, compared to $66.5 billion (€61.3 billion or 2.98% of GDP) in March and $67.4 billion (€62.1 billion or 3.36% of GDP) in relation to April 2023.
The South American country's international reserves totaled $351.6 billion (€324 billion) in April 2024, a reduction of $3.4 billion (€3.2 billion) compared to the previous month.
The reduction was mainly due to negative contributions from price variations.
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