Brazil posts larger-than-expected current account deficit in January
BRASILIA, Feb 24 (Reuters) - Brazil's current account deficit started the year wider than expected by economists, central bank data showed on Tuesday, while foreign direct investment (FDI) came in well above forecasts.
Latin America's largest economy posted a current account deficit of $8.36 billion in January, wider than the $6.4 billion shortfall expected by economists in a Reuters poll.
The January gap was driven mainly by a larger deficit in the factor payments account, which offset a higher trade surplus.
Foreign direct investment (FDI) totaled $8.168 billion in the month, exceeding the $7.0 billion forecast in the poll.
In 12-month terms, the current account deficit narrowed to 2.92% of gross domestic product (GDP), while FDI was broadly stable at 3.42% of GDP.
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