Brazil’s current account deficit widened to $6.0 billion in March 2026 from $2.9 billion in March 2025, exceeding market expectations of a $5.6 billion shortfall. The goods trade surplus narrowed to $5.6 billion from $7.2 billion a year earlier. Goods exports rose 9.5% year-on-year to $31.7 billion, while goods imports jumped 19.9% to $26.1 billion.
The services account deficit increased to $4.8 billion from $4.2 billion, reflecting higher expenses in telecommunications, computing and information services (up 27.4%), intellectual property services (up 9.2%), and transport (up 7.5%).
The primary income deficit widened 17.8% to $7.4 billion. Net interest expenses surged 33.5% to $2.6 billion, driven by greater intercompany operations, while net profit and dividend outflows rose 10.7% to $4.8 billion.
Over the 12 months through March 2026, the current account deficit increased to $64.3 billion, or 2.71% of GDP, compared with $61.2 billion, or 2.61% of GDP, in February.
