Brazil’s 2006 Account Surplus Reaches US$ 2.5 Bi, 37% Less Than Last Year

    Brazil’s foreign accounts continue on the upswing, and the country’s balance of payments, which include all its foreign transactions, ended up with a US$ 6.769 billion surplus in May.

    This information comes from the Foreign Sector Report issued yesterday, June 21, by the Economic Department of the Central Bank (BC).

    The chief factors contributing to the surplus were the significant surpluses chalked up in the financial account (US$ 5.662 billion) and in the current account (US$ 475 million).

    The star performer was once again the trade surplus, which amounted to US$ 3.027 billion, together with foreign portfolio investments (US$ 2.635 billion) and foreign direct investments in the productive sector (US$ 1.576 billion).

    These figures were presented by the head of the BC’s Economic Department, Altamir Lopes, who pointed out that the cumulative current account surplus so far this year comes to US$ 2.506 billion.

    He remarked that this outcome is "very good by Brazilian standards," but it is still far from the US$ 3.973 billion surplus attained in the same period last year. The decline amounts to 36.92%.

    According to the report, foreign direct investments totaled US$ 1.576 billion in May, more than double the amount registered in May, 2005.

    Net foreign direct investments since January have gemerated a surplus of US$ 6.324 billion, 12.03% less than last year’s figure of US$ 7.189 billion for the first five months of the year.

    ABr

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