Brazil-Trade deficit.

BRAZIL.

DEFICIT.

Brazil has posted its first current account deficit since 2002 in 2008, according to figures revealed on Monday in Brasilia.

Brazil is the largest economy in Latin America and the deficit for 2008 came in at US$28.3 billion, as opposed to a surplus of US$1.55 billion in 2007.

A government spokesman said that there is gong to be a fall out from the world economic crisis, however the gap is not expected to widen in 2009 but Brazil will remaining deficit.

There has been 30% wiped off the value of the currency since August 2008 and a staggering 44% wiped of the value of the stock market.