Brazil’s current account deficit narrowed more than economists forecast in August, as a weaker currency boosts exports and crimps imports in Latin America’s largest economy.
The deficit in the current account, the broadest measure of trade in goods and services, narrowed in August to $2.5 billion from a revised $5.7 billion a month earlier, the central bank said in a report distributed Wednesday in Brasilia. The gap compares with a median estimate of $3.2 billion in a Bloomberg survey of 27 analysts. The 12-month gap narrowed to $84.5 billion from a revised $88.9 billion in July.
The annual current account gap has been shrinking since the start of the year as Latin America’s biggest economy heads to its longest recession since 1931. Imports of goods and services have plunged as inflation erodes wages, Brazilian lose jobs and the real weakens.
Brazil Energy Insight 
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