Foreign accounts have $202 mi surplus in November

Brazil’s foreign accounts saw a positive balance of $202 million in November. According to the Central Bank, it is the seventh monthly surplus in 2020, and the biggest surplus for the month of November since 2006’s $1.3 billion.

In November last year, a $3.106 billion deficit was posted for the country’s current accounts, which includes goods and services bought and sold, and income transfers between Brazil and other countries.

“This reversal followed the trend noted in the last months and stemmed from the reductions of $2.8 billion and $507 million in the deficits for primary income (profits and dividends, interest and salary payments) and services, respectively. The surplus in the trade of balance for goods retained the level observed in November 2019,” the Central Bank’s report reads.

From January to November, current transactions saw a deficit of $7.502 billion, compared to $46.045 billion in the same period in 2019. In the 12-month period ended in November, the deficit stood at $12.154 billion (0.82 percent of the country’s gross domestic product, or GDP), against a negative $15.463 billion (1.02 percent of the GDP) in the equivalent period ended in October.