Brazil Economic Monitor 巴西经济新闻

Dec 9, 2013

Brazil Public Sector: Borrowing Requirements

The nominal deficit of the consolidated public sector reached 3.45% of the GDP in the last 12 months ended in October/2013. As the graph shows, the nominal result reached its lower level in mid-2008, and has a growth trend since 2011. This deterioration in nominal result was due mainly to low pace of economic activity, which led to a lower growth of public revenues. On the other hand, expenditure continued with a pace of real growth, contributing to worse the public accounts.

Source: Central Bank of Brazil 

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Dec 8, 2013

Brazil - International Reserves

The volume of international reserves reached USD 361 million at December 05, a decrease of USD 12 billion compared to the end of 2012, according to data released by the Central Bank of Brazil. The growth in the volume of reserves, as we can see in the chart, has occurred consistently over the past 10 years. The slight decrease in the volume of reserves in 2013 was due to the sale with repurchase agreement the Bank have been practicing to increase the  liquidity to the foreign exchange market, and the volume of reserves should rise as soon as these operations goes to maturity.

Source: Central Bank of Brazil

Dec 1, 2013

Brazil: Labor Force

According to the IBGE - Brazilian Institute of Geography and Statistics, the "PIA" (active age population) reached 42.9 million people in October 2013 in the metropolitan areas in Brazil, virtually equal to the previous month and an increase of 1.2% compared to October 2012. In 2013, the average growth was 1%.

The graph below shows the evolution of the labor force and the growth rate over the previous year and in the last 12 months. The graph shows that the size of the labor force increased 1.1% over the last 12 months, but this growth has been in a declining trend over the past 10 years.


Nov 24, 2013

Brazil - Balance of Payments - Oct/2013

The balance of payments registered a deficit of USD 4.5 billion in October. The current account deficit reached USD 7.1 billion in the month and $ 67.5 billion in the year through October, more than in the same period 2012, USD 39.6 billion. In the last twelve months, the accumulated current account deficit of $ 82.2 billion, equivalent to 3.67% of GDP.

The net balance of Brazilian direct investment abroad and foreign investment in Brazil reached USD 5.5 billion in October

Foreign portfolio investment showed net inflows of $ 388 million in October and totaled USD 41 billion in the last 12 months.

The chart below shows the historical data of Brazil's balance of payments:

Source: Central Bank o Brazil

The complete tables, published by the Central Bank of Brazil, are in link:

Nov 17, 2013

Brazil - Inflation Oct-2013

The official inflation index reached 0.57% in October, and in the last 12 months, accumulates 5.84%, and it is with a slight downward trend, as we can see in the chart below.
By decomposing the ratio between monitored and non-monitored prices, we can see that, while non-monitored prices rose 7.4% in the last 12 months, monitored prices rose only 1%. Monitored prices are mostly prices of electricity power, fuel and bus fares, and are sectors where the government intervened to prevent price increases to curb inflation.

More details can be found at: