LatinNews Daily - 27 February 2023

* Brazil’s central bank (BCB) has released figures on the country’s current account deficit for January, which was at US$8.8bn, down from the US$9.4bn deficit recorded in January 2022. According to Fernando Rocha, the head of the BCB’s statistics department, this decrease was mainly due to a 16.5% year-on-year increase in exports, which totalled US$23.3bn in January. Meanwhile, imports totalled US$22.1bn in January, which he said was up 3.5% year-on-year. The deficit this January was at 2.87% of GDP, down slightly from last January when it was at 2.85% of GDP. The central bank also reported that foreign direct investment (FDI) in Brazil reached US$6.9bn this January, up from the US$5.1bn registered in January 2022. Rocha pointed out that “the income from direct investment [was] the most stable long-term source financing the country’s balance of payments.”

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