Brazil Current Account Surplus Falls

Brazil recorded a current account surplus in August of $822 million, below the expected level of $1 billion and a drop from the record high of $2.59 billion in July. The current account surplus for the 12 months to August was $12.5 billion, or 1.78% of GDP, a drop from $13.4 billion as at end July. FDI was also down in August, reaching $1.1 billion, versus $2.0 billion last month. This takes FDI for the first eight months of 2005 to $11.5 billion.