(Recast and adds details on remittances and previous deficits)
BRASILIA May 23 Brazil's current account
deficit was bigger than expected in April due to a jump in the
repatriation of profits and dividends by foreign companies,
central bank data showed on Friday.
Brazil posted a current account deficit of
$8.291 billion in April, above the median forecast for $6.7
billion and the $6.2 billion gap recorded in March.
Foreign companies repatriated $3.291 billion, up sharply
from the $2.542 billion sent abroad in April of last year.
Brazilians also continue to spend heavily abroad as the
local currency, Brazil's real, has strengthened in recent
months. Spending abroad was $1.797 billion in April, up nearly
20 percent from the same month last year.
Despite the larger deficit in April, the current account gap
as percentage of GDP remained stable at 3.65 percent.
A rapidly deteriorating trade balance due to lower demand
for Brazilian products abroad and strong appetite for imported
goods has widened the country's deficit with the rest of the
Foreign direct investment in Latin America's
largest economy was $5.233 billion in April, below market
expectations of $5.4 billion.
(Reporting by Alonso Soto and Luciana Otoni; Editing by