Brazil registered a current account deficit of 1.03 billion U.S. dollars in November, down from 1.5 billion dollars in October and 1.3 billion dollars in November 2007, the country's Central Bank said Friday.
The deficit was much higher than the 500 million dollars estimated by the Central Bank for the month, and closer to the 1 billion dollars projected by the market.
The accumulated current account deficit from the January to November 2008 period totaled 25.8 billion dollars, representing 1.77 percent of Brazil's GDP. In the same period last year, Brazil registered a surplus of 2.1 billion dollars.
Direct investment in Brazil totaled 2.1 billion dollars in November, down from 3.9 billion dollars in October and 2.5 billion dollars in the same period in 2007. From January to November 2008,direct investment totaled 36.9 billion dollars.
For December, the Central Bank estimated direct investment in Brazil at around 3.1 billion dollars.
The November results led the Bank to adjust its previous projections for the 2008 deficit from 28.8 to 29.6 billion dollars. The projection for the 2009 deficit, however, was lowered from the previous 33.1 billion dollars to 25 billion dollars.
Source: Xinhua
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