The Central Bank of Brazil has reported that the country's external deficit reached 55.960 billion dollars in 2024, which represents more than double the figure recorded in 2023. This level of deficit, the highest in five years, was driven by economic growth and a lower trade balance.
The negative balance in 2024 significantly surpassed the one recorded in 2023, which was 24.510 billion dollars, and was close to the record reached in 2019, which was 65.000 billion dollars.
The Central Bank explained that this deficit was due to economic growth that increased the demand for external goods and services, as well as the deterioration of the services account, which recorded a deficit of 49.700 billion dollars in 2024, compared to 39.800 billion the previous year.
In contrast, foreign direct investments grew by 13.8% in 2024, reaching 71.100 billion dollars, the highest level since 2022. However, the trade balance experienced a sharp contraction, dropping from a positive balance of 92.270 billion dollars in 2023 to 66.200 billion in 2024.
Despite the deficit, Brazil has international reserves of 339.000 billion dollars, the highest in the region. It is crucial to monitor external dynamics in 2025 to avoid new imbalances in the economy, specialists warn.
