Brazil's current account deficit narrowed to USD 0.82 billion in December 2018 from USD 2.07 billion in the same month a year earlier. The goods surplus increased to USD 6.18 billion from USD 4.64 billion in December 2017 and the services shortfall declined to USD 3.27 billion from USD 3.67 billion. Meantime, the primary income gap widened to USD 3.86 billion from USD 3.61 billion and the secondary income surplus fell to USD 0.14 billion from USD 0.57 billion. Considering 2018 as a whole, the current account recorded a USD 14.51 billion deficit, compared to a USD 7.23 billion gap in 2017. Current Account in Brazil averaged -1648.10 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 -4100.00 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 -4350.00 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.