Brazil ran up a solid $923 million foreign trade surplus in January, reversing a $3.17 billion deficit from January of 2015, the Trade and Development Ministry said Monday. But, as in past months, the surplus came at the price of a huge drop in imports. January imports were down 35.8% against the same month in 2015 as demand for everything from mobile phones to capital goods declined in the face of a broad economic slowdown. Exports were down 13.8% from January a year ago on lower international commodities prices.
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