UPDATE 1-Brazil Nov current account dips from yr ago surplus

(Recasts, adds foreign direct investment, forecasts)

BRASILIA, Dec 19 (Reuters) - Brazil posted a wider-than-expected current account deficit in November, reversing a surplus in external accounts a year earlier as the trade surplus fell and companies boosted profit remittances abroad, government data showed on Wednesday.

The deficit BRCURA=ECI reached $1.3 billion in November compared with a surplus of $1.39 billion in the same month a year ago, the central bank said.

Economists expected a deficit of $800 million, according to the median forecast of 20 analysts surveyed by Reuters. Estimates ranged from a deficit of $1.2 billion to zero.

In October, Brazil had current account deficit of $42 million, the central bank reported last month.

In the 12 months through November, Brazil posted a current account surplus equal to 0.37 percent of gross domestic product compared with 0.6 percent in the 12-month period through October.

Foreign direct investment in Brazil, Latin America's largest economy, edged lower in November to $2.53 billion from $2.67 billion a year earlier, the central bank said.

The result was in line with the $2.5 billion median estimate of 14 analysts in the Reuters survey. The estimates ranged from $2.3 billion to $2.7 billion.

For 2008, the central bank forecast a current account deficit of $3.5 billion, the first deficit in the external accounts since 2002. The bank estimates foreign direct investment of $28 billion.

The current account balance tracks a country's net flow of external transactions, including foreign trade, interest payments and services such as tourism. It is used to gauge a country's dependence on foreign capital. (For details on Brazil's August current account figures, see: www.bcb.gov.br/?ECOIMPEXT) (Reporting by Raymond Colitt; Writing by Elzio Barreto, editing by Walker Simon)