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Wednesday, October 06, 2010

Brazil-Iran Trade Grows

Brazil remains top exporter to Iran, but Venezuela becomes Iran's top market in Latin America.
MORE TRADE Presidents Luiz Inácio Lula da Silva of Brazil and Mahmoud Ahmadinejad of Iran in Tehran in May. (Photo: Ricardo Stuckert/Brazil President's Office)



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.

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.

Venezuela also replaced Ecuador as Iran’s top market in Latin America. Last year, Iran’s export to Venezuela reached $36.6 million, a 33.4 percent decline. Exports to Ecuador fell 92.1 percent to $13.3 million, which ranked it as the third-largest market for Iranian goods in Latin America. Brazil ranks as the second.

Iran’s trade with Mexico reached $20.6 million, a 34.9 percent decline. That still ended up inching Mexico up one spot among Iran’s trade partners in Latin America – to sixth place.

Iran’s top ten trade partners also include Colombia, Costa Rica, Paraguay, Peru and Uruguay, according to the Latin Business Chronicle analysis.


 © Copyright Latin Business Chronicle 

TABLE: Iran-Latin Trade 2009: Top Partners, Top Export Markets, Top Import Origin


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