Brazil posted a current account surplus of $286 million in March, the strongest information for the month in 17 years, boosted by a powerful commerce steadiness efficiency, central financial institution information confirmed on Tuesday.
The commerce steadiness had a constructive steadiness of $9.48 billion, the best determine in the complete sequence, pushed by a major enhance in exports, with emphasis on booming shipments of oil and soybean.
This led the current account to report its first constructive steadiness since June 2022, with a March surplus being the first since 2006.
Based on the central financial institution, overseas direct funding totaled $7.673 billion in March.
Buyers made a internet portfolio funding withdrawal of $1.955 billion in Brazilian markets, in contrast with withdrawals of $5.489 billion in the identical month final yr.
Outflows in shares totaled $3.67 billion, whereas inflows in bonds reached $1.715 billion.
The Treasury Secretary just lately instructed DailyKhaleej that overseas buyers
have been returning
to Brazil’s public debt market following the federal government’s proposal of long-awaited new fiscal guidelines on the finish of March. (Reporting by Marcela Ayres, Enhancing by Louise Heavens and Chizu Nomiyama)