LatAm Daily | After a significant adjustment, CA declines to 3.3% of GDP in Brazil
Published on Wednesday, January 27, 2016
LatAm Daily | After a significant adjustment, CA declines to 3.3% of GDP in Brazil
Summary
Thanks to the contraction of domestic demand, which we estimate to have been around 6.3%, and the 50% depreciation of the USD exchange rate in 2015, the current account deficit dropped 44% and reached USD59bn (3.3% of GDP) last year. The deficit was entirely covered by FDI, which reached USD75bn (4.2% of GDP).
Geographies
- Geography Tags
- Latin America
- Brazil
Topics
- Topic Tags
- Macroeconomic Analysis
Authors
Marina Conesa
Enestor Dos Santos
BBVA Research - Principal Economist
Hugo Perea
BBVA Research - Chief Economist
Cecilia Posadas
BBVA Research - Principal Economist
Jorge Selaive
Carlos Serrano
BBVA Research - Chief Economist
Juana Téllez
BBVA Research - Chief Economist