Iran increases exports to Latin America, reaching USD136M in 4 months yr/yr
Date
8/13/2024 5:01:20 AM
(MENAFN) In the first four months of the current Iranian calendar year (March 20 - July 21), Iran significantly increased its exports to Latin American countries, reaching 436 million tons of goods valued at USD136 million, according to IRIB. This represents an extraordinary 680 percent rise in value compared to the same period last year. The weight of these exports also saw a substantial increase, rising by 18 million tons.
Iran exported goods to 15 Latin American nations during this period, including major destinations such as Argentina, Brazil, Chile, Colombia, Costa Rica, Cuba, the Dominican Republic, Ecuador, Guatemala, Mexico, Peru, Paraguay, El Salvador, Uruguay, and Venezuela. Brazil emerged as the leading recipient of Iranian exports, importing over 435 tons of goods. Venezuela, Cuba, Colombia, and Mexico followed as the next top destinations.
The primary products exported to Latin America included urea, aircraft engine components and parts, agricultural tractors, sprockets, and wire. These items made up a significant portion of the goods traded during this period, reflecting Iran's diverse export portfolio to the region.
This dramatic increase in exports underscores a growing economic relationship between Iran and Latin America, highlighting the expanding reach of Iranian trade beyond its traditional markets.
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