Political Risk Latin America Blog @PolRiskLatam

Brazil-Iran Trade Grows

Posted in News and Articles, Political Risk by politicalrisklatam on October 6, 2010

by Latin Business Chronicle, October 6th, 2010.

Brazil remains top exporter to Iran, but Venezuela becomes Iran’s top market in Latin America.

Brazil’s trade with Iran grew last year by 4.3 percent to $1.316 billion thanks to growth in both exports and imports, according to a Latin Business Chronicle analysis of data from the International Monetary Fund (IMF).

Brazil’s exports to Iran increased by 4.1 percent to $1.297 billion, while imports from Iran grew 29.1 percent to $19 million.
Brazil is Iran’s top trading partner in Latin America. Argentina, Iran’s second-largest partner in the region, increased its imports by 8.6 percent last year to $7.8 million, but its exports to Iran fell 20.9 percent to $940.9 million. All in all, two-way trade reached $948.7 million, 20.8 percent decline from 2008.

Combined, Brazil and Argentina account for 94 percent of Latin America’s trade with Iran, which last year fell 14.4 percent to $2.4 billion. Last year Venezuela replaced Ecuador as Iran’s third-largest partner. Although Venezuela’s trade with Iran fell 33.8 percent, Ecuador’s decline was much worse: 91.7 percent. (continue reading… )

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