Brazil trade surplus grows to $4.3 billion in January, below forecast

BRASILIA, Feb 5 (Reuters) -

Brazil's trade surplus reached $4.3 billion in January, the Ministry of Development, Industry, Trade and Services ?said on Thursday, up 85.8% from a year ?earlier but below the $4.9 billion expected by ?economists in a Reuters ?poll.

Exports from ?Latin America's largest economy fell 1.0% from a year ?earlier to $25.2 billion, ?while imports dropped a sharper 9.8% to $20.8 billion.

The figures come as ?Brazil's economy shows ?clearer ?signs of slowing. The central bank has kept interest rates unchanged at a nearly ?20-year high of 15% since July last year.

Brazilian shipments declined in key export items such as crude oil, iron ore and coffee, ?while ?posting strong growth in products including corn, soybeans and beef.

On the import ?side, which is more diversified, the main drag in the month came from a fall in fuel oils and crude oil purchases.

Last month, the ministry estimated that ?Brazil's trade surplus this year will

range

between $70 billion and $90 billion, above the $68.3 billion surplus recorded in 2025. (Reporting by ?Marcela Ayres; Editing by David Gregorio)