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Last name Arrazola (Arrazola ) , across the world, is a common surname. The surname Arrazola is characteristic of Latin America and the Caribbean, particularly Honduras, where it is quite a common surname, Bolivia, where it is quite a rare surname, and Guatemala. In absolute terms, it is the most numerous in Latin America and the Caribbean, particularly Mexico, Colombia, and Honduras. Much less frequently, Arrazola is the forename as well as the last name.