Imports Fall 36% in January as Brazil Registers Trade Surplus

02/02/2016 - 09h16

Brazil's trade balance closed out January with a surplus of US$923 million, the first surplus for January since 2011 and the highest in nine years.

Exports totaled US$11.2 billion, with a 14% fall compared to January last year. However, imports fell by 36% in the same period, down to US$10.3 billion.

This is the lowest value since 2009, when the country was suffering from the effects of the global financial crisis, following the closure of the American bank Lehman Brothers.

Imports have suffered from recession and the strength of the dollar, which have both reduced demand in Brazil for imported goods.

This readjustment of the external accounts, which is happening faster than economists predicted, has been important in reducing Brazil's dependency on foreign capital.

Last year, Brazil registered a trade surplus of US$19.7 billion, the highest since 2011.

Translated by TOM GATEHOUSE

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