LatinNews Daily - 25 October 2021

In brief: Brazil posts a current account deficit in September

* Brazil’s central bank (BCB) has released the latest figures on the external sector, which show an uptick in the country’s current account deficit in September. Brazil posted a US$1.7bn current account deficit in September this year, compared with a US$344m deficit in September 2020. In the 12 months to September 2021, the current account deficit reached US$20.7bn, equivalent to 1.30% of GDP. This is up from US$19.3bn (1.22% of GDP) in the 12 months to August 2021, but down from US$32.2bn (2.09% of GDP) in the 12 months to September 2020. The BCB’s head of statistics, Fernando Rocha, noted that the deficit-to-GDP ratio has fallen significantly over the past year due to the coronavirus (Covid-19) pandemic’s effect on activity, adding that the 12-month current account deficit has remained stable at around 1.3% of GDP for the past three months.

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