FX.co ★ Brazil Current Account Deficit Widens in November

In November 2025, Brazil’s current account deficit expanded to USD 4.9 billion from USD 4.4 billion a year prior, aligning with market forecasts. The goods trade surplus decreased to USD 5.1 billion from USD 6.0 billion, due to exports climbing 2.3% to USD 28.7 billion while imports grew at a faster rate of 7.1%, reaching USD 23.6 billion. The deficit in services saw an 11.8% decline, settling at USD 4.5 billion. Conversely, the primary income deficit increased by 6.4% to USD 6.2 billion, and secondary income saw an uplift of USD 176 million. Over the twelve-month period leading to November, the current account deficit amounted to USD 77.7 billion, representing 3.47% of GDP, up from USD 77.2 billion (3.49%) in October and exceeding the USD 61.5 billion (2.78%) recorded the previous year.