The external accounts registered a negative balance of US$ 2.4 billion in February this year. In the same month of 2021, the deficit was US$ 4 billion in current transactions, which are purchases and sales of goods, services and income transfers with other countries.
According to external sector statistics for February, released today (29), in Brasília, by the Central Bank, in the interannual comparison, the trade balance of goods increased by US$ 3.9 billion, a result that was “partially offset” by the increase of US$ 1.9 billion in the deficit in primary income and of US$ 361 million in the deficit in services.
In the 12 months ending in February 2022, the current account deficit stood at US$ 26.1 billion, which corresponds to 1.59% of GDP – the sum of all the wealth produced by the country. In January, this same item was at US$ 27.7 billion (1.71% of GDP); and in February 2021, at US$ 21 billion (1.49% of GDP).
Also according to the BC survey, “the trade balance for goods recorded a surplus of US$ 3.5 billion in February 2022, compared to a negative balance of US$ 357 million in February 2021. Exports of goods totaled US$ 23.7 billion. billion, while imports totaled US$ 20.2 billion, increases of 43.6% and 19.8% compared to February 2021”, informed the monetary authority.
Exports of goods, added the BC, totaled US$ 23.7 billion. Imports reached US$ 20.2 billion, corresponding to an increase of 43.6% and 19.8%, respectively, compared to February 2021.
services and travel
The service sector accounts registered a deficit of US$ 1.8 billion in February this year, a value 25.5% higher compared to the same month of 2021. The net expenses verified in the international travel account stood at US$ 445 million in the month, up from $28 million in February 2021.
“On the same basis of comparison, the growth of gross travel revenue flows, 70.1%, totaling US$ 360 million, and travel expenses, 235.5%, totaling US$ 805 million. Net transport expenses totaled US$ 425 million in February 2022, compared to US$ 274 million in February 2021, following the trend of expansion of the foreign trade flow”, detailed the BC.
primary income
The primary income account deficit increased 77.3% compared to February 2021, reaching US$4.4 billion in the month. The deficit in net profit and dividend expenses also increased, from US$ 1 billion in February 2021 to US$ 2.9 billion in February 2022. The Central Bank reported that this is mainly due to the increase of US$ 2 billion in gross expenses.
Net interest expenses increased 2.7% compared to 2021, reaching US$ 1.5 billion in the month. Net inflows in direct investments in the country totaled US$ 11.8 billion in February 2022, compared to US$ 8.8 billion in February 2021.
“There were net inflows of US$ 12.2 billion in equity and net outflows of US$ 394 million in intercompany operations. In the twelve months ending February 2022, the IDP [Investimento Direto no País] totaled US$ 50.7 billion (3.09% of GDP), compared to US$ 47.7 billion (2.94% of GDP) in the previous month and US$ 44.8 billion (3.18% of GDP) in February 2021”, detailed the BC.
Direct investments abroad (FDI) showed net investments of US$ 2.5 billion, as a result of US$ 2.7 billion in equity participation and net amortizations of US$ 161 million in intercompany operations. According to the BC, in the 12 months ending in February 2022, FDI totaled US$ 19.3 billion in net investments abroad.
Portfolio investments in the domestic market registered US$ 1.8 billion in net inflows in February 2022. The result is due to a total of US$ 4.8 billion in inflows via stocks and investment funds; and outflows in debt securities, which represented US$ 3.0 billion.
“In the 12 months ending in February 2022, portfolio investments in the domestic market totaled net inflows of US$23.2 billion,” said the BC.
international bookings
International reserves were reduced by US$ 658 million in February, compared to January. As a result, they dropped to US$ 357.7 billion.
“The result was mainly due to the variations in parities that contributed to reduce the stock by US$ 2.4 billion. Net return on repurchase lines, $1 billion; price variations, US$ 646 million; and interest income, US$ 393 million, contributed to increase the stock of international reserves”, explained the Central Bank.
