{"id":88729,"date":"2024-05-08T09:53:58","date_gmt":"2024-05-08T12:53:58","guid":{"rendered":"https:\/\/murray.adv.br\/?p=88729"},"modified":"2024-05-08T09:53:59","modified_gmt":"2024-05-08T12:53:59","slug":"foreign-direct-investment-at-highest-level-since-2017","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/foreign-direct-investment-at-highest-level-since-2017\/","title":{"rendered":"Foreign Direct Investment at highest level since 2017"},"content":{"rendered":"\n
Current account had a deficit of $32.6bn in first quarter<\/em><\/strong><\/h6>\n\n\n\n

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05\/08\/2024<\/p>\n\n\n

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Foreign Direct Investment totaled $23.3 billion in the first quarter of this year, the highest result for the period since 2017. The month of March, which saw the highest figure for the month since 2012 at $9.6 billion, contributed to this result.<\/p>\n\n\n\n

FDI is considered the most stable form of financing for external accounts. Over 12 months, it decreased to $66.5 billion (2.98% of GDP) from $75.2 billion (3.76% of GDP) in March last year, but it still exceeds the current account deficit.<\/p>\n\n\n\n

In the 12 months ending in March this year, the deficit was $32.6 billion (1.46% of GDP). In March 2023, the cumulative figure was $49.3 billion (2.46% of GDP). The head of the Central Bank\u2019s statistics department, Fernando Rocha, said the deficit is low given the country\u2019s economic conditions and is \u201cfully financed by long-term capital, mainly FDI.\u201d<\/p>\n\n\n\n

FDI includes equity participation, intercompany operations (loans from a parent company abroad to a subsidiary in Brazil, minus amortizations paid abroad), and reinvested earnings. Mr. Rocha said that intercompany transactions were the main contributors to the increase in FDI in March, rising to $5.5 billion this year from $2.5 billion in the same month of 2023.<\/p>\n\n\n\n

For Rafaela Vit\u00f3ria, chief economist at Banco Inter, the recovery of FDI was the positive surprise of the quarter. She said that the net inflow equivalent to 3% of GDP over 12 months is a \u201cquite comfortable\u201d level, considering the current account deficit. \u201cDespite the more negative movement in the market, which signals a perception of increased risk from foreign investors due to higher interest rates and recent currency devaluation, Brazil is likely to continue to attract enough direct investment to keep the external accounts in surplus,\u201d she said.<\/p>\n\n\n\n

In the first quarter, the current account balance was negative at $14.4 billion, compared to $12.6 billion in the same period of 2023. In this comparison, the figure is mainly impacted by the service account, which had a deficit of $10.7 billion in 2024 compared to $7.6 billion in the first three months of 2023.<\/p>\n\n\n\n

Mr. Rocha added that this service account shows an increase in trade flow. He also said that the explanation for the dynamics of services has changed in recent months. The major factor in the increase in the deficit is explained by intellectual property services (such as license payments for software distribution) and the account for telecommunications, computing, and information.<\/p>\n\n\n\n

Lu\u00eds Ot\u00e1vio Leal, a partner and chief economist at G5 Partners, said that the balance of current transactions in March, with a deficit of $4.6 billion against a surplus of $700 million in March 2023, includes factors such as increased expenses on travel, transport, and equipment rental, \u201call reactive to the recovery of the economy and income.\u201d According to the economist, the deficit is expected to reach $45 billion by the end of this year, or 2% of GDP.<\/p>\n\n\n\n

Current transactions were also impacted by the result of the goods trade balance, which had a surplus of $12.5 billion in the first quarter, and the primary income account, consisting of capital remuneration revenues and expenses\u2014profits and interest\u2014which had a deficit of $16.5 billion in the same period.<\/p>\n\n\n\n

*Por Gabriel Shinohara, Alex Ribeiro\u00a0\u2014 Bras\u00edlia, S\u00e3o Paulo<\/p>\n\n\n\n

Source: Valor International<\/p>\n\n\n\n

\nhttps:\/\/valorinternational.globo.com\/\n<\/div><\/figure>\n\n\n\n

<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Current account had a deficit of $32.6bn in first quarter 05\/08\/2024 Foreign Direct Investment totaled $23.3 billion in the first quarter of this year, the highest result for the period since 2017. The month of March, which saw the highest figure for the month since 2012 at $9.6 billion, contributed to this result. FDI is […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[24984,24985],"class_list":["post-88729","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-foreign-direct-investment","tag-highest-level-since-2017"],"yoast_head":"\nForeign Direct Investment at highest level since 2017 - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/foreign-direct-investment-at-highest-level-since-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign Direct Investment at highest level since 2017 - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Current account had a deficit of $32.6bn in first quarter 05\/08\/2024 Foreign Direct Investment totaled $23.3 billion in the first quarter of this year, the highest result for the period since 2017. 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