ROMANIA - Pakistan Trade

ROMANIA RANKED NO. 73 AS PAKISTAN’S EXPORT DESTINATION IN 2018 COUNTRY EXPORT VALUE (US$) % SHARE IN TOTAL EXPORTS World 23,630,893,000 1 United States of America 3,802,500,000 16% 2 China 1,818,069,000 8% 3 United Kingdom 1,728,637,000 7% 4 Afghanistan 1,347,934,000 6% 5 Germany 1,310,444,000 6 United Arab Emirates 983,575,000 4% 7 Netherlands 942,802,000 8 Spain 922,898,000 9 Bangladesh 783,825,000 3% 73 Romania 26,764,000 0.113% EU is Pakistan’s largest export market and the UK is the most important export market within the EU

SLOVAKIA WAS THE THIRD SMALLEST EXPORT DESTINATION WITHIN THE EU IN 2018 The EU is Pakistan’s largest export market representing 34% of exports Romania accounted for 0.34% of total EU exports from Pakistan in 2018. EU is Pakistan’s largest export market and the UK is the most important export market within the EU

ROMANIA RANKS NO. 70 IN PAKISTAN’S IMPORT SOURCES COUNTRY IMPORT VALUE (US$) % SHARE IN TOTAL EXPORTS World 60,162,862,000 1 China 14,544,687,000 24% 2 United Arab Emirates 8,668,637,000 14% 3 Saudi Arabia 3,242,349,000 5% 4 United States of America 2,946,715,000 5 Indonesia 2,502,372,000 4% 6 Qatar 2,386,183,000 7 Japan 2,273,024,000 8 India 1,928,465,000 3% 9 Thailand 1,430,727,000 2% 70 Romania 46,401,000 0.077% EU is Pakistan’s largest export market and the UK is the most important export market within the EU

WITHIN THE EU, ROMANIA WAS THE FIFTEENTH HIGHEST EXPORTER TO PAKISTAN IN 2018 EU is Pakistan’s 3rd largest import partner after China and UAE. Imports from the EU stood at $5.46 billion in 2018. Romania accounts for 0.9% of Pakistan’s imports from the EU and 0.077% of total imports from the world. The UK is the second most important import supplying market of Pakistan in the EU

PAKISTAN ROMANIA Trade Trends Bilateral trade decreased from US$ 193.2 Mn in 2014 to US$ 73.16 Mn in 2018 i.e. by 164% in five years Pakistan’s exports to Romania rose by 3.9% during this period. Meanwhile, Romania’s exports to Pakistan decreased by 72.2% during these five years. The trade deficit has decreased during the last five years, from $141.74 Mn in 2014 to around $19.64 Mn in 2018.

PAKISTAN’S TOP 10 EXPORTS TO ROMANIA HS CODE DESCRIPTION EXPORT VALUE 2016 (US$) EXPORT VALUE 2017 (US$) EXPORT VALUE 2018 (US$) 050400 Guts, bladders and stomachs of animals (other than fish), whole and pieces thereof, fresh, ... 2,687,000 2,531,000 3,618,000 630260 Toilet linen and kitchen linen, of terry towelling or similar terry fabrics of cotton (excluding ... 1,762,000 2,488,000 3,416,000 551341 Plain woven fabrics containing predominantly, but < 85% polyester staple fibres by weight, ... 2,523,000 2,349,000 2,305,000 630210 Bedlinen, knitted or crocheted 455,000 765,000 1,525,000 630231 Bedlinen of cotton (excluding printed, knitted or crocheted) 1,040,000 1,147,000 1,144,000 901890 Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s. 517,000 806,000 995,000 520831 Plain woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 100 g/m², ... 122,000 440,000 887,000 521021 Plain woven fabrics of cotton, containing predominantly, but < 85% cotton by weight, mixed ... 973,000 749,000 642,000 390761 Poly"ethylene terephthalate", in primary forms, having a viscosity number of >= 78 ml/g - 1,665,000 591,000 520932 Woven fabrics of cotton, containing >= 85% cotton by weight and weighing > 200 g/m², in three-thread ... 413,000 282,000 549,000

PAKISTAN’S TOP 10 IMPORTS FROM ROMANIA HS CODE DESCRIPTION IMPORT VALUE 2016 (US$) IMPORT VALUE 2017 (US$) IMPORT VALUE 2018 (US$) 120510 Low erucic acid rape or colza seeds "yielding a fixed oil which has an erucic acid content ... - 14,275,000 271012 Light oils and preparations, of petroleum or bituminous minerals which >= 90% by volume "incl. ... 1,941,000 1,520,000 7,907,000 440399 Wood in the rough, whether or not stripped of bark or sapwood, or roughly squared (excluding ... 4,655,000 6,642,000 5,621,000 440799 Wood, sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, ... 3,917,000 1,653,000 2,472,000 848210 Ball bearings 558,000 1,238,000 1,599,000 847420 Crushing or grinding machines for solid mineral substances 921,000 281830 Aluminium hydroxide 393,000 805,000 917,000 848220 Tapered roller bearings, incl. cone and tapered roller assemblies 299,000 822,000 880,000 848250 Cylindrical roller bearings (excluding needle roller bearings) 264,000 754,000 794,000 850300 Parts suitable for use solely or principally with electric motors and generators, electric ... 74,000 789,000

ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$) Pakistan’s Theoretical Potential* for Additional Exports to Romania, 2018 Top 10 Potential Products (HS 06). Aggregate Theoretical Potential is $1.5 bn HS CODE DESCRIPTION ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$) 270900 Petroleum oils and oils obtained from bituminous minerals, crude - 262,067,000 271019 Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ... 235,930,000 620342 Mens or boys trousers, bib and brace overalls, breeches and shorts, of cotton (excluding ... 36,000 155,939,000 170199 Cane or beet sugar and chemically pure sucrose, in solid form (excluding cane and beet sugar ... 145,172,000 610910 T-shirts, singlets and other vests of cotton, knitted or crocheted 19,000 142,993,000 901890 Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s. 995,000 142,799,000 390761 Poly"ethylene terephthalate", in primary forms, having a viscosity number of >= 78 ml/g 591,000 132,403,000 410712 Grain splits leather "incl. parchment-dressed leather", of the whole hides and skins of bovine ... 109,690,000 640399 Footwear with outer soles of rubber, plastics or composition leather, with uppers of leather ... 326,000 77,807,000 620462 Womens or girls trousers, bib and brace overalls, breeches and shorts of cotton (excluding ... 5,000 76,159,000 8 of the 10 high potential exports already benefit from 0% tariffs under GSP+. The two products that don’t are rice and sugar which are unlikely to receive preferential treatment even under an FTA *Theoretical potential from diverting Pakistan’s existing exports from other countries to meet Romania’s imports, ignoring competitiveness and tariffs

ACTUAL IMPORTS IN 2018 (US$) Pakistan’s Theoretical Potential* for Additional Imports from Romania, 2018 Top 10 Potential Products (HS 06). Aggregate theoretical potential is $8.1 bn HS CODE ACTUAL IMPORTS IN 2018 (US$) POTENTIAL IMPORTS IN 2018 (US$) 271111 Natural gas, liquefied - 3,295,892,000 271012 Light oils and preparations, of petroleum or bituminous minerals which >= 90% by volume "incl. ... 7,907,000 1,602,445,000 271019 Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ... 1,009,608,000 870321 Motor cars and other motor vehicles principally designed for the transport of persons, incl. ... 542,106,000 300490 Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ... 677,000 432,119,000 870322 291,880,000 720449 Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ... 96,000 283,852,000 870323 266,725,000 851762 Machines for the reception, conversion and transmission or regeneration of voice, images or ... 2,000 242,740,000 847989 Machines and mechanical appliances, n.e.s. 170,309,000 In the high potential imports of Pakistan from the UK, most products already face tariffs similar to those faced by Pakistan’s FTA partners *Theoretical potential from switching imports from existing sources to Romania exporters, ignoring competitiveness and tariffs