Brazil is Iran’s top partner in Latin America, with Argentina and Ecuador trailing close behind.
Last week’s visit to Brazil by Iran’s president Mahmoud Ahmadinejad caused controversy, but made sense for the Iranian leader.Brazil is Iran’s largest trade partner in Latin America and the top Latin American exporter to Iran, according to a Latin Business Chronicle analysis of data from the International Monetary Fund (IMF).
The analysis also shows that Iran’s trade with Latin America tripled last year to $2.9 billion. Brazil’s trade with Iran reached $1.3 billion last year. That was a 88 percent increase from 2007, according to the IMF data. However, during Ahmadinejad’s visit Brazilian officials said two-way trade in 2007 stood at $2 billion. Neither Brazil nor has released detailed trade data on their two-way trade for 2007 or 2008.
