The Brazilian central bank reported on Monday, January 5th, that Brazil’s current accounts in the year 2023 showed a decrease in the deficit, reaching $16.6 billion compared to the year 2022.
The total deficit last year amounted to $28.6 billion, representing 1.32% of the gross domestic product, compared to $48.3 billion and a percentage of 1.47% of the GDP in 2022.
According to the Central Bank of Brazil, this decrease in the deficit is mainly attributed to a $36.4 billion increase in the trade surplus and a $2 billion decrease in the services deficit.
The trade balance last year witnessed a record positive surplus of $98.839 billion, which is 60% higher than the previous year. Furthermore, the total deficit in the services sector amounted to $37.6 billion, showing a 5.1% decrease compared to 2022.
ANBA
