BRASILIA, June 26 (Reuters) – Brazil’s current account deficit reached $3.185 billion in May, central bank data showed on Friday, narrower than the $4.159 billion shortfall expected in a Reuters poll. Â
• The trade surplus widened by about $500 million from a year earlier, while the services deficit increased by a similar amount.
• The factor payments account saw a deficit broadly unchanged from a year ago.
• The 12-month current account deficit shrank to 2.60% of gross domestic product (GDP) from 2.65% in April, and from 3.52% a year earlier.
• The annual improvement was driven mainly by a stronger trade balance, which is expected to widen this year as Brazil, a net oil exporter, benefits from higher prices linked to Middle East tensions.
• Foreign direct investment (FDI) totaled $7.974 billion in May, above the $5.750 billion forecast in the poll.
• In 12-month terms, FDI rose to 3.38% of GDP from 3.27% a month earlier, broadly in line with May last year.
(Reporting by Marcela Ayres; Editing by Aidan Lewis)
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