LatinNews Daily - 28 March 2023

In brief: Brazil’s current account deficit shrinks

* Brazil’s central bank (BCB) has released figures on the country’s current account deficit for February, which was at US$2.8bn, down from US$4.2bn in February 2022. This brings Brazil’s current account deficit in the 12 months to February 2023 to US$54.4bn (2.78% of GDP). The balance of payments for goods registered a US$2.5bn surplus in February 2023, down from a surplus of US$3.6bn in the same month last year, with exports and imports falling by 9.0% and 5.4%, respectively. Foreign direct investment (FDI) fell steeply year-on-year to total US$6.5bn in February, down from US$10.8bn in February 2022.

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