Brazil current account registered a surplus of USD 0.286 bln in March, the largest since June 2021 and a significant improvement from a USD 3 bln deficit in the previous year. The goods account saw a record-high surplus of USD 9.5 bln due to a surge in oil, corn, and soybeans exports of 12.1%, whereas imports rose by 0.9%. Meanwhile, Brazil’s current account gap narrowed to USD 11.8 bln in Q1 2023, down from USD 16.6 bln in Q1 2022.