Brazil’s current account deficit narrowed to $4.7 billion in August 2025 from $7.2 billion a year earlier, below market expectations of a $5.5 billion gap. The goods surplus rose to $5.5 billion from $3.7 billion, with exports up 3.8% to $30.0 billion and imports down 2.6% to $24.5 billion. The services deficit fell 20.3% to $4.2 billion, while the primary income deficit widened 6.4% to $6.3 billion. The secondary income balance held steady at $3.97 billion. Over the 12 months through August, the current account deficit totaled $76.2 billion, or 3.51% of GDP, down from $78.7 billion (3.66% of GDP) in July but well above the $43.6 billion (1.95% of GDP) gap from a year earlier.