Brazil recorded a current account surplus of USD 0.33 billion in October of 2018 compared to a USD 0.69 billion deficit in the same month of the prior year but well below market expectations of a USD 1 billion surplus. The goods surplus rose to USD 5.45 billion from USD 4.91 billion in October 2017 and the secondary income surplus also went up to USD 0.30 billion from a USD 0.21 billion surplus. Meantime, the primary income gap decreased to USD 2.23 billion from a USD 3.10 billion while the services deficit widened to USD 3.14 billion from USD 2.70 billion in the same period of 2017. Considering the January to October period of 2018, the current account gap widened strongly to USD 11.3 billion from USD 1.4 billion in the same period of 2017. Current Account in Brazil averaged -1651.69 USD Million from 1980 until 2018, reaching an all time high of 3250 USD Million in May of 2017 and a record low of -13345 USD Million in January of 2014.
Current Account in Brazil is expected to be -4200.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Brazil to stand at -3200.00 in 12 months time. In the long-term, the Brazil Current Account is projected to trend around -4400.00 USD Million in 2020, according to our econometric models.