BRASILIA (Reuters) -Brazil’s current account deficit reached $9.77 billion in September, wider than the $7.75 billion shortfall forecast by economists in a Reuters poll, central bank figures released on Friday showed.

Foreign direct investment (FDI) for the month came in at $10.67 billion, beating the $6.5 billion expected in the poll and marking the highest level for the month in the historical series.

Over the past 12 months, FDI amounted to 3.47% of gross domestic product (GDP), not enough to cover the current account deficit, which stood at 3.61% of GDP.

Brazil’s widening external gap has been driven mainly by a shrinking trade surplus: imports have been growing faster than exports as Latin America’s largest economy continues to show resilience despite high borrowing costs.

In Sept

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