Better Performance of the External Accounts

BRAZIL ECONOMICS - Report 17 Aug 2015 by Affonso Pastore, Cristina Pinotti and Marcelo Gazzano

The good news about the Brazilian economy in recent months has been the decline in the current account deficit, which in annualized monthly terms is now only half of the US$ 100 billion level observed in 2014 (Graph 1). The improvement is concentrated in three accounts, which we examine in more detail: net international travel spending; trade balance; and transport services balance.

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