UPDATE 1-Brazil April current account deficit widens

* April current account deficit widens over year-ago

* Current account deficit equals to 1.99 pct of GDP

* Foreign direct investment $2.223 bln in April
(Updates with details, background, context)

BRASILIA, May 25 (BestGrowthStock) – Brazil’s current account
deficit gaped wider in April over the year-ago period, as the
trade surplus slipped and companies sent more money abroad.

Brazil posted a current account deficit (BRCURA=ECI: ) of
$4.583 billion in April, the central bank said on Tuesday.

The country had been expected to post a deficit of $4.85
billion for the month, according to the median forecast of 18
economists surveyed by Reuters. The estimates for the deficit
ranged from $4 billion to $5.6 billion.

For the 12 months through April, the current account
deficit was equal to 1.99 percent of gross domestic product,
compared with 1.79 percent in the year through March.

Brazil posted a current account surplus of $105 million in
April 2009.

Brazil’s trade surplus slipped to $1.284 billion in April
from the year earlier figure of $3.692 billion. Profit and
remittances by multinationals in the country to their
headquarters abroad jumped 95 percent to $3.346 billion, while
debt amortizations inched up to 2.568 billion from 2.424
billion.

Foreign direct investment reached $2.223 billion in April.

For details on the April current account indicators, please
see:

http://www.bcb.gov.br/?ECOIMPEXT

Stock Market News

(Reporting by Isabel Versiani; Writing by Luciana Lopez,
Editing by Chizu Nomiyama)

UPDATE 1-Brazil April current account deficit widens