Commercial and financial dealings with other countries have become a rare positive sign for Brazil’s troubled economy, with the current-account deficit expected to fall sharply this year.
The central bank said Friday that the current-account deficit shrank to $3.1 billion in September, from $7.9 billion a year earlier. The bank estimates 2015 will end with a $65 billion deficit, a 37% drop from last year’s $103.6 billion deficit.
The improvement stems from the sharp depreciation in the country’s currency this year, combined with a deep recession. The Brazilian real has lost about a third of its value in 2015, and economists expect gross domestic product to shrink 3% this year.