External
Brazil spends more dollars than it earns, but direct investment covers the gap
In the 12 months to August 2026 the current account deficit was US$63.0 billion, down from US$76.9 billion in the previous period. Foreign direct investment into the country totaled US$86.6 billion.
The Briefing · Written Oct 4, 2026 · Numbers and charts update with each release
Direct investment and current account, 12-month totals
US$ billion, last three years
Source: Central Bank of Brazil (SGS)
The current account is the balance of all the country's transactions with the rest of the world: trade in goods, services and income. Brazil sells more goods than it buys: the 12-month trade surplus was US$70.6 billion, with exports of US$373.3 billion (9.7% above the previous year) and imports of US$302.7 billion (6.4% above).
Foreign direct investment (known as IDP) is foreign money put into companies and assets here for the long term. International reserves stood at US$372.6 billion in August, against US$350.8 billion a year earlier. The dollar closed at R$5.22 on October 2, 5.1% below the end of 2025.
What the number means for you
The country spent more abroad than it earned
That is the 12-month current account deficit. A year earlier it was US$76.9 billion, so it improved by US$13.9 billion.
Direct investment covers the deficit 1.4 times
That money arrives as long-term investment, not short-term borrowing, which makes the bill easier to finance.
The dollar is 5.1% cheaper than at the end of 2025
A cheaper dollar lowers the price in reais of imports and foreign travel. For exporters, each dollar sold earns fewer reais.
The next test: what would change the answer
What we do not know yet: the central bank publishes the balance of payments with about a one-month lag, so the latest data is for August. The improving trend has not yet been confirmed by September.
The 12-month current account deficit returning to US$76.9 billion, the level of a year ago. It would end the improvement.
12-month direct investment falling below the current account deficit. Today it covers the deficit 1.4 times.
The dollar above R$5.44, the 2026 high. It would show the year's decline has reversed.
Questions readers ask
What is the current account?
The balance of the country's transactions with the rest of the world: trade in goods and services, interest, profits and remittances. A deficit means the country spent more abroad than it earned.
What is foreign direct investment (IDP)?
Foreign capital invested in companies and assets in Brazil, usually for the long term, such as buying a factory or a significant stake in a firm.
What are international reserves for?
The dollars and other foreign-currency assets held by the central bank. They act as a cushion for paying external bills in turbulent times.
How often is this data published?
The current account, trade and direct investment come out monthly from the central bank, with about a one-month lag. The dollar is updated daily.