Brazil Record Current Account Surplus

Brazil’s current account surplus widened to a record level in November, driven by increased exports. The surplus reached $1.74 billion compared with a deficit of $222 million in the same month last year. The surplus in October was $911 million. FDI year on year was down slightly, recording $1.18 billion compared with $1.32 billion in November 2004. The government expects the year to end with a record surplus of $14.5 billion.