Brazil's current account deficit soars in 1st 4 months of 2010

RIO DE JANEIRO, May 25 (Xinhua) -- Brazil registered a current account deficit of nearly 17 billion U.S. dollars in the first four months of 2010, a surge from the 4.8 billion dollars recorded a year earlier, the country's Central Bank said Tuesday.

The latest deficit represents 2.68 percent of Brazil's gross domestic product. In the first four months of 2009, the current account deficit amounted to 1.26 percent of the country's GDP.

The current account figures are formed by the trade balance results, the services and income account, and the unilateral transfers from abroad. In the first four months of this year, Brazil accumulated a trade surplus of 2.2 billion dollars, down from the 6.7 billion dollars a year ago.

The services and income account accumulated a deficit of 20 billion dollars, up from 12.7 billion dollars in the same period last year. The unilateral transfers from abroad totaled 1.12 billion dollars, down from 1.145 billion dollars in the same period last year.

Remittances rose by more than 2 billion dollars to 7.9 billion dollars, compared to the year-ago figure.

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