Brazil’S Currency Flow Remains Positive In 2024, Central Bank Reports
Date
10/16/2024 3:16:22 PM
(MENAFN- The Rio Times) Brazil's currency flow has maintained a positive trend in 2024, reaching $9.313 billion by October 11th. The Central bank of Brazil released these preliminary figures, showing a slight decrease from the $11.491 billion net inflow recorded in 2023.
The financial channel has experienced a net outflow of $52.558 billion this year. Inflows totaled $456.998 billion, while outflows reached $509.556 billion.
This channel encompasses various financial operations, including foreign direct investments, portfolio investments, profit remittances, and interest payments.
On the other hand, Brazil's foreign trade balance has shown strength, with a positive balance of $61.871 billion in 2024. Imports amounted to $176.632 billion, while exports reached $238.503 billion.
The export figures include $27.342 billion in advance exchange contracts, $58.330 billion in advance payments, and $152.830 billion in other inflows.
October's preliminary data reveals a positive currency flow of $2.55 billion up to the 11th. This marks an improvement from September's negative flow of $3.983 billion.
Brazil's Financial and Trade Performance
The financial channel saw a minor outflow of $106 million in October, with purchases of $19.496 billion and sales of $19.602 billion.
The foreign trade balance for October, up to the 11th, stands at a positive $2.657 billion. Imports totaled $7.118 billion, while exports reached $9.775 billion.
These export figures include $882 million in advance exchange contracts, $2.711 billion in advance payments, and $6.183 billion in other inflows.
The week of October 7-11 showed a particularly strong performance. The currency flow was positive by $3.245 billion, with the financial channel contributing a net inflow of $1.684 billion. The foreign trade balance for this week was positive at $1.561 billion.
These figures suggest that Brazil 's economy continues to attract foreign capital and maintain a robust trade balance. The positive currency flow indicates confidence in the Brazilian market, despite global economic challenges.
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