Good performance of the trade balance in March influenced the outcome of commercial operations abroad, reducing the current account deficit.
The month of March recorded the best result for the Brazilian current transactions since August 2009, with a negative balance of US $ 855 million. The results, released on Wednesday (20) by the Central Bank exceeded initial government forecasts, which estimated a deficit on current account of $ 1.7 billion for the period.
It means that by the end of the month, the net negative balance was less than half of what was expected. The good performance of exports helped the country to achieve this result.
The current account represents the final balance of trade of goods and services negotiated by Brazil with other countries. This includes the trade balance, balance of services and unilateral transfers.
The lower negative balance recorded since August 2009 reflects the economic adjustment measures adopted by the federal government since the beginning of last year. The changes favored Brazilian exports that now give effect to the Brazil’s external accounts.
“Much of this difference was due to the behavior of the trade balance, which recorded positive performance of US$ 4.3 billion in the month,” said the head of economic department of the Central Bank, Tulio Maciel.
In March, Brazilian exports reached US$ 15.9 billion, while imports were US$ 11.6 billion. In the quarter, the trade balance recorded a US$ 7.7 billion surplus. In the same period last year these transactions recorded a US$ 5.8 billion deficit.
The balance of the services account (which include individuals of income and expenses and business and include, for example, Brazilians spent abroad and equipment rental) recorded in March this year a US$ 2.9 billion deficit. In the same period last year, the deficit was US$ 3.7 billion.