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LatinNews Daily - 30 August 2022
In brief: Brazil registers trade deficit in May
* Brazil’s central bank (BCB) has released the balance of payment (BOP) figures for May 2022, which show a deficit of US$3.5bn, compared with a surplus of US$2.5bn in the same month of 2021. According to local media, this was the worst May result since 2014. The year-on-year comparison revealed a reduction of US$3.9bn in the BOP for goods. This coincided with a US$743m increase in the BOP deficit for services, and a US$1.4bn increase in the deficit for primary income. The current account deficit in the 12 months leading up to May 2022 totalled US$32.9bn, or 1.89% of GDP, up from a US$19.1bn current account deficit (1.3% of GDP) in the 12 months to May 2021.
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