Brazil’s US$ 5 Billion Deficit After Brazilians Go on a Shopping Spree Overseas

São Paulo, Brazil, Cumbica international airport In July, the month of school holidays, expenditures by Brazilians in foreign countries totaled US$ 1.104 billion up until today July 28. Disbursements by foreigners in Brazil, on the other hand, reached only US$ 393 million.

In the face of these two results, the balance of trips is running a deficit of US$ 711 million, according to preliminary figures supplied by the Central Bank of Brazil. The dollar, which is depreciated against the Brazilian currency, favors foreign trips.

In June, the balance of trips (expenditures by Brazilians abroad, minus expenditures by foreigners in Brazil) remained negative at US$ 621 million. Revenues totaled US$ 426 million, and expenditures, US$ 1.047 billion.

In the first half of the year, the balance of trips remained negative at US$ 2.635 billion. Revenues totaled US$ 2.899 billion, and expenditures, US$ 5.534 billion.

In the accumulated result for the 12-month period ending last June, the deficit in the balance of trips stood at US$ 4.833 billion. The results recorded in the six-month and twelve-month periods are the highest ever in the historical series initiated in 1947.

In the 12-month period, revenues from the balance of trips totaled US$ 5.416 billion, and expenditures by Brazilians in foreign countries totaled US$ 10.250 billion.

ABr

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