I've written a lot about the overblown specter of Iran in Latin America, and here is another interesting note: trade with Venezuela remains low. Its three biggest trading partners are Brazil, Argentina, and Mexico (two of which the NSA is bugging the crap out of).
Thanks to a strong increase in trade with Mexico, that country now ranks as the third-largest Iranian trade partner in Latin America. It also ranks Iran's top market in Latin America. Mexico's Iran trade reached 133.8 million last year compared to only 9.97 million in 2011
That is not a part of the story you hear very often, since Iran's trade is supposedly a political ploy with leftist governments. Instead, you see the very economic reason Latin America likes Iran: it runs a big trade deficit, I assume soaking up commodities. If trade with Mexico grows, however, I would expect to hear assertions that it is all about hooking up with Drug Trafficking Organizations.