LATVIA- Pakistan Trade

LATVIA WAS PAKISTAN’S 83RD LARGEST EXPORT DESTINATION IN 2018 RANK 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% 83 Latvia 21,587,000 0.09% EU is Pakistan’s largest export market and the UK is the most important export market within the EU

LATVIA WAS THE 20TH LARGEST EXPORT DESTINATION WITHIN THE EU IN 2018 The EU is Pakistan’s largest export market representing 34% of exports Latvia accounted for 0.27% 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

LATVIA RANKS NO. 79 IN PAKISTAN’S IMPORT SOURCES COUNTRY IMPORT VALUE (US$) % SHARE IN TOTAL EXPORTS World 60,162,862,000 1 China 14,544,687,000 24.18% 2 United Arab Emirates 8,668,637,000 14.41% 3 Saudi Arabia 3,242,349,000 5.39% 4 United States of America 2,946,715,000 4.90% 5 Indonesia 2,502,372,000 4.16% 6 Qatar 2,386,183,000 3.97% 7 Japan 2,273,024,000 3.78% 8 India 1,928,465,000 3.21% 9 Thailand 1,430,727,000 2.38% 79 Latvia 13,748,000 0.02% EU is Pakistan’s largest export market and the UK is the most important export market within the EU

WITHIN THE EU, LATVIA RANKED NO. 21 AS PAKISTAN’S EXPORT DESTINATIONS EU is Pakistan’s 3rd largest import partner after China and UAE. Imports from the EU stood at $5.46 billion in 2018. Latvia accounts for 0.25% of Pakistan’s imports from the EU and 0.02% of total imports from the world. The UK is the second most important import supplying market of Pakistan in the EU

PAKISTAN LATVIA Trade Trends Bilateral trade decreased from US$ 43.3 million in 2014 to US$ 35.3 million in 2018 i.e. by 18.5% in five years Pakistan’s exports to Latvia declined by 17% during this period Meanwhile, Latvia’s exports to Pakistan also fell by 20.8% during the last five years. The trade balance in 2018 has reverted back to about the same as in 2014.

PAKISTAN’S TOP 10 EXPORTS TO LATVIA HS CODE DESCRIPTION EXPORT VALUE 2016 (US$) EXPORT VALUE 2017 (US$) EXPORT VALUE 2018 (US$) 630260 Toilet linen and kitchen linen, of terry towelling or similar terry fabrics of cotton (excluding ... 1,336,000 2,885,000 6,715,000 630231 Bedlinen of cotton (excluding printed, knitted or crocheted) 726,000 1,240,000 2,867,000 420310 Articles of apparel, of leather or composition leather (excluding clothing accessories, footware ... 6,000 4,000 2,598,000 630210 Bedlinen, knitted or crocheted 388,000 437,000 1,559,000 620791 Men's or boys' singlets and other vests, bathrobes, dressing gowns and similar articles of ... 67,000 106,000 666,000 100630 Semi-milled or wholly milled rice, whether or not polished or glazed 274,000 351,000 493,000 420329 Gloves, mittens and mitts, of leather or composition leather (excluding special sports gloves) 321,000 462,000 455,000 520851 Plain woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 100 g/m², ... 208,000 417,000 551423 Woven fabrics containing predominantly, but < 85% polyester staple fibres by weight, mixed ... 139,000 327,000 610590 Men's or boys' shirts of textile materials, knitted or crocheted (excluding of cotton or man-made ... 103,000 193,000 326,000

PAKISTAN’S TOP 10 IMPORTS FROM LATVIA HS CODE DESCRIPTION IMPORT VALUE 2016 (US$) IMPORT VALUE 2017 (US$) IMPORT VALUE 2018 (US$) 720441 Turnings, shavings, chips, milling waste, sawdust, filings, trimmings and stampings of iron ... 4,473,000 2,010,000 5,257,000 720449 Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ... 1,807,000 943,000 3,675,000 440729 Tropical wood specified in Subheading Note 1 to this chapter, sawn or chipped lengthwise, sliced ... 2,810,000 3,143,000 1,687,000 630900 Worn clothing and clothing accessories, blankets and travelling rugs, household linen and articles ... 301,000 361,000 507,000 440399 Wood in the rough, whether or not stripped of bark or sapwood, or roughly squared (excluding ... 831,000 502,000 456,000 071310 Dried, shelled peas "Pisum sativum", whether or not skinned or split 2,223,000 1,479,000 451,000 270300 Peat, incl. peat litter, whether or not agglomerated 125,000 64,000 393,000 760200 Waste and scrap, of aluminium (excluding slags, scale and the like from iron and steel production, ... 118,000 246,000 440799 Wood, sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, ... 696,000 601,000 226,000 071320 Dried, shelled chickpeas "garbanzos", whether or not skinned or split - 199,000

ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$) Pakistan’s Theoretical Potential* for Additional Exports to Latvia, 2018 Top 10 Potential Products (HS 06). Aggregate Theoretical Potential is $0.6 bn HS CODE DESCRIPTION ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$) 271019 Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ... - 235,930,000 300490 Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ... 168,000 73,542,832 100199 Wheat and meslin (excluding seed for sowing, and durum wheat) 49,772,000 901890 Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s. 66,000 32,389,934 740400 Waste and scrap, of copper (excluding ingots or other similar unwrought shapes, of remelted ... 29,539,000 300439 Medicaments containing hormones or steroids used as hormones but not antibiotics, put up in ... 29,148,000 640399 Footwear with outer soles of rubber, plastics or composition leather, with uppers of leather ... 272,000 27,435,728 170490 Sugar confectionery not containing cocoa, incl. white chocolate (excluding chewing gum) 59,000 27,206,941 170199 Cane or beet sugar and chemically pure sucrose, in solid form (excluding cane and beet sugar ... 24,362,000 721049 Flat-rolled products of iron or non-alloy steel, of a width of >= 600 mm, hot-rolled or cold-rolled ... 23,795,000 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 Latvia’s imports, ignoring competitiveness and tariffs

ACTUAL IMPORTS IN 2018 (US$) Pakistan’s Theoretical Potential* for Additional Imports from Latvia, 2018 Top 10 Potential Products (HS 06). Aggregate theoretical potential is $1.6 bn HS CODE ACTUAL IMPORTS IN 2018 (US$) POTENTIAL IMPORTS IN 2018 (US$) 300490 Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ... 20,000 432,776,000 851712 Telephones for cellular networks "mobile telephones" or for other wireless networks 384,778,000 290243 P-Xylene 851762 Machines for the reception, conversion and transmission or regeneration of voice, images or ... 3,000 242,739,000 271019 Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ... 223,022,000 291736 Terephthalic acid and its salts 720449 Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ... 3,675,000 151,328,000 730890 Structures and parts of structures, of iron or steel, n.e.s. (excluding bridges and bridge-sections, ... 120,938,000 840681 Steam and other vapour turbines, of an output > 40 MW (excluding those for marine propulsion) 290121 Ethylene 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 Latvia’s exporters, ignoring competitiveness and tariffs