Capital Flows Atlas

Countries · Americas

Brazil

Brazil is Latin America's largest economy and a major commodity exporter, with direct investment of between $60bn and $80bn in most years since 2015.

At a glance

Population, 2025212.8m
GDP, 2025$2.28tn$10,713 per person
Real GDP growth, 2025+2.3%Inflation: 5.0%
Current account, 2025−2.9% of GDP−$66.7bn
Reserves incl. gold, 2025$358.5bn

Net inflows of foreign direct investment were $77.7bn in 2025, against an average of $65.2bn a year in 2015–2024. Investors based in Brazil put a net $30.2bn into direct investment abroad in the same year, less than Brazil received. Foreign investors were net sellers of $4.95bn of shares in Brazil in 2025. Brazil ran a current account deficit in every year shown, which means it relied on money from abroad. Investors in Brazil held $168.4bn of US Treasury securities at the end of August 2026, −$16.2bn on a year earlier, and $27.1bn of US shares.

Brazil's central bank holds large reserves, which have cushioned the currency through periods of stress. Portfolio flows into Brazilian shares and bonds swing with interest rates and politics more than direct investment does. Brazil is a founding member of BRICS.

Brazil's holdings of US securities

Treasuries, shares and bonds issued in the US and held by investors in Brazil.

US Treasuries held, Aug 2026$168.4bn−$16.2bn on Aug 2025 · rank 16 of 76
US shares held, Aug 2026$27.1bn+$3.4bn on Aug 2025 · rank 43 of 76
All long-term US securities held, Aug 2026$196.8bnCorporate bonds: $2.20bn · agency bonds: $0.00bn
Net purchases, 12 months to Aug 2026+$1.4bn sharesTreasuries: −$15.2bn · corporate bonds: +$0.5bn

Holdings of US securities

End of month, Aug 2025 to Aug 2026, $bn.

Net purchases of long-term US securities

Each month, $bn. Positive means net buying.

The US Treasury records holdings by the country where securities are held in custody, which is not always the owner's country. Why this matters.

Direct and equity investment

Annual net flows, $bn. Direct investment means building or buying businesses; portfolio equity means buying listed shares and fund units.

Net flows by year

Direct investment into and out of Brazil, and foreign buying of its shares, $bn.

Current account and reserves

The balance of trade and income with the rest of the world, and the reserves held by the central bank.

Current account balance

Each year, $bn. A surplus means the country lends to the rest of the world.

Foreign exchange reserves, including gold

End of year, $bn.

Remittances

Money sent home by people working abroad, compared with direct investment, $bn.

Remittances and direct investment

Each year, $bn.

The economy

GDP

Current US dollars, $bn. Dollar figures also move with exchange rates.

Growth and inflation

Real GDP growth and consumer price inflation, per cent.

All figures

Annual figures from the World Bank, as published. Download them for every country on the data page.

Indicator20152016201720182019202020212022202320242025
Population (m)201.68203.22204.70206.11207.46208.66209.55210.31211.14212.00212.81
GDP ($bn)1,802.21,795.72,063.51,916.91,873.31,476.11,670.61,951.92,191.12,185.82,279.9
GDP per person ($)8,9368,83610,0819,3019,0307,0747,9739,28110,37810,31110,713
Real GDP growth (%)−3.5−3.31.31.81.2−3.34.83.03.23.42.3
Inflation (%)9.08.73.43.73.73.28.39.34.64.45.0
Current account ($bn)−63.41−30.53−25.26−53.82−63.96−24.22−39.40−41.96−26.98−65.31−66.72
Current account (% GDP)−3.5−1.7−1.2−2.8−3.4−1.6−2.4−2.1−1.2−3.0−2.9
Reserves incl. gold ($bn)356.5365.0374.0374.7356.9355.6362.2324.7355.0329.7358.5
Direct investment in ($bn)64.7474.2968.8978.1869.1738.2746.4475.5062.7574.0977.68
Direct investment out ($bn)3.1314.6921.342.0222.82−3.4716.2433.3525.1526.3430.18
Portfolio equity in ($bn)9.7911.045.67−2.95−1.81−5.217.5911.450.83−17.51−4.95
Remittances ($bn)2.902.742.702.933.213.574.104.974.434.904.76

The monthly read

A short email after each TIC release: where money moved, what changed among the big holders, and the charts that matter.

Subscribe on Substack

Sign-up and emails are handled by Substack.