Brazil’s current account deficit narrowed to $5.6 billion in February 2026, from $10.2 billion in the same month a year earlier, coming in slightly above market expectations of $5.4 billion. The goods trade balance shifted from a $1.1 billion deficit to a $3.5 billion surplus, driven by a 14.8% increase in exports to $26.4 billion and a 5.1% decline in imports to $22.9 billion.
The services deficit was broadly unchanged at $3.9 billion. Robust growth in international travel spending (up 49.0%) and intellectual property services (up 46.8%) was partly offset by reduced transport costs (down 18.0%) and lower telecommunications expenses (down 4.6%).
The primary income deficit inched up 2.1% to $5.6 billion, as profit and dividend remittances abroad rose 13.6%, while interest payments declined 19.8%.
On a 12‑month rolling basis, the current account deficit fell to $63.4 billion, or 2.71% of GDP, from $79.0 billion, or 3.67% of GDP, a year earlier.
