(Adds central bank estimates and last year’s figures)
BRASILIA, Sept 24 (Reuters) - Brazil’s current account deficit widened slightly in August from a year ago as exports remained weak, but the external gap this year will likely not surpass that of 2013 despite a drop in commodity prices, the central bank said on Wednesday.
Brazil posted a current account deficit of $5.489 billion in August. That was above market expectations for a deficit of $5.3 billion, according to the median forecast of 19 analysts in a Reuters poll.
Brazil’s current account deficit in July was $6.018 billion while it had a $5.476 billion gap in August of 2013.
The current account is a country’s widest measurement of foreign exchange flows, including trade, services, interest payments and remittances.
Brazil’s current account deficit has widened sharply over the last two years owing to a dwindling trade surplus.
The central bank maintained its 2014 current account deficit forecast of $80 billion, slightly below last year’s gap of $81.215 billion. It also maintained its estimate for foreign direct investment at $63 billion this year.
FDI in Latin America’s largest economy was $6.84 billion in August, above market expectations of $4.45 billion. (Reporting by Alonso Soto and Luciana Otoni Editing by W Simon and Tom Brown)