Brazil posts more current account deficit in 2014

Brazil registered a current account deficit of 90.95 billion U.S. dollars in 2014, accounting for 4.17 percent of the country's GDP, Brazil's Central Bank announced Friday.

The situation is worse than the Central Bank's projection for 2014 and the deficit in the year before. In 2013, the deficit stood at 3.62 percent of the GDP.

Meanwhile, the financial account recorded a favorable balance of 99 billion dollars, up from 72.6 billion dollars in 2013.

Foreign direct investment amounted to 62.5 billion dollars or 2.95 percent of the GDP, down from 64 billion dollars or 2.85 percent of the GDP in 2013. Last year Brazilian investments abroad totaled 3.5 billion dollars, up 1.3 percent from 2013.

The country's foreign exchange reserves added up to 374.1 billion dollars by the end of the 2014, down from 375.8 billion dollars in December 2013.

The services account had a deficit of 48.7 billion dollars in 2014, up 3.3 percent from one year earlier, said the bank. Net revenues of royalties and license fees hit 3.3 billion dollars, rising 8.8 percent year on year. Endi