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  • 08 SEPTEMBER 2024
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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."

Brazil's foreign trade deficit grows tenfold in April
Notícias ao Minuto

17:08 - 24/05/24 por Lusa

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.

Read Also: Government sends TAP flight with humanitarian aid to Brazil on the 28th (Portuguese version)

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