1. FINLAND - Pakistan Trade

2. FINLAND WAS PAKISTAN’S 72ND 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% 72
Finland
27,668,000
0.1%
EU is Pakistan’s largest export market and the UK is the most important export market within the EU

3. FINLAND WAS THE 17th LARGEST EXPORT DESTINATION WITHIN THE EU IN 2018
The EU is Pakistan’s largest export market representing 34% of exports
Finland accounted for 0.3% 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

4. FINLAND RANKS NO. 40 IN PAKISTAN’S IMPORT SOURCES
COUNTRY
IMPORT VALUE (US$)
% SHARE IN TOTAL IMPORTS
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% 40
Finland
141,212,000
0.2%
EU is Pakistan’s largest export market and the UK is the most important export market within the EU

5. WITHIN THE EU, FINLAND WAS THE 10TH 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.
Finland accounts for 2.5% of Pakistan’s imports from the EU and 0.2% of total imports from the world.
The UK is the second most important import supplying market of Pakistan in the EU

6. PAKISTAN FINLAND Trade Trends
Bilateral trade increased from US$ 122 Mn in 2014 to US$ 169 Mn in 2018 i.e. by 39% in five years
Pakistan’s exports to Finland went down by 53% during this period.
Meanwhile, Finland’s exports to Pakistan rose by 127% during the last five years.
The trade balance in 2018 has gone up $144 Mn in favor of Finland.

7. PAKISTAN’S TOP 10 EXPORTS TO FINLAND
HS CODE
DESCRIPTION
EXPORT VALUE 2016 (US$)
EXPORT VALUE 2017 (US$)
EXPORT VALUE 2018 (US$)
420329
Gloves, mittens and mitts, of leather or composition leather (excluding special sports gloves)
4,284,000
4,288,000
3,976,000
630231
Bedlinen of cotton (excluding printed, knitted or crocheted)
2,236,000
6,185,000
3,561,000
620322
Men's or boys' ensembles of cotton (excluding knitted or crocheted, ski ensembles and swimwear)
616,000
1,364,000
1,130,000
610349
Men's or boys' trousers, bib and brace overalls, breeches and shorts of textile materials, ...
1,527,000
1,369,000
1,125,000
630260
Toilet linen and kitchen linen, of terry towelling or similar terry fabrics of cotton (excluding ...
447,000
570,000
965,000
420321
Specially designed gloves for use in sport, of leather or composition leather
656,000
731,000
805,000
420310
Articles of apparel, of leather or composition leather (excluding clothing accessories, footware ...
1,185,000
651,000
679,000
620342
Men's or boys' trousers, bib and brace overalls, breeches and shorts, of cotton (excluding ...
546,000
303,000
662,000
611090
Jerseys, pullovers, cardigans, waistcoats and similar articles, of textile materials, knitted ...
225,000
255,000
596,000
620349
Men's or boys' trousers, bib and brace overalls, breeches and shorts of textile materials (excluding ...
256,000
358,000
591,000

8. PAKISTAN’S TOP 10 IMPORTS FROM FINLAND
HS CODE
DESCRIPTION
IMPORT VALUE 2016 (US$)
IMPORT VALUE 2017 (US$)
IMPORT VALUE 2018 (US$)
851762
Machines for the reception, conversion and transmission or regeneration of voice, images or ...
317,000
1,774,000
45,625,000
720441
Turnings, shavings, chips, milling waste, sawdust, filings, trimmings and stampings of iron ...
2,226,000
2,840,000
15,403,000
850239
Generating sets (excluding wind-powered and powered by spark-ignition internal combustion piston ...
5,189,000
3,442,000
9,020,000
854449
Electric conductors, for a voltage <= V, insulated, not fitted with connectors, n.e.s.
18,000
65,000
6,491,000
350790
Enzymes and prepared enzymes, n.e.s. (excluding rennet and concentrates thereof)
8,633,000
9,252,000
5,608,000
481092
Multi-ply paper and paperboard, coated on one or both sides with kaolin or other inorganic ...
98,000
3,819,000
4,532,000
850440
Static converters
3,113,000
4,918,000
4,507,000
760200
Waste and scrap, of aluminium (excluding slags, scale and the like from iron and steel production, ...
3,071,000
2,913,000
3,876,000
470321
Semi-bleached or bleached coniferous chemical wood pulp, soda or sulphate (excluding dissolving ...
1,653,000
1,693,000
2,597,000
852349
Optical media for the recording of sound or of other phenomena (excluding unrecorded and goods ...
2,000
292,000
2,548,000

9. ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$)
Pakistan’s Theoretical Potential* for Additional Exports to the Finland, 2017
Top 10 Potential Products (HS 06). Aggregate Theoretical Potential $1.5 Bn
HS CODE
DESCRIPTION
ACTUAL EXPORTS IN 2018 (US$)
POTENTIAL EXPORTS IN 2018 (US$)
220710
Undenatured ethyl alcohol, of actual alcoholic strength of >= 80% -
425,499,000
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
901890
Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s.
189,000
202,799,000
610910
T-shirts, singlets and other vests of cotton, knitted or crocheted
236,000
82,039,000
620342
Men's or boys' trousers, bib and brace overalls, breeches and shorts, of cotton (excluding ...
662,000
77,082,000
611020
Jerseys, pullovers, cardigans, waistcoats and similar articles, of cotton, knitted or crocheted ...
39,000
74,130,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
73,543,000
940490
Articles of bedding and similar furnishing, fitted with springs or stuffed or internally filled ...
422,000
64,887,000
300439
Medicaments containing hormones or steroids used as hormones but not antibiotics, put up in ...
60,485,000
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 Finland’s imports,
ignoring competitiveness and tariffs

10. ACTUAL IMPORTS IN 2018 (US$)
Pakistan’s Theoretical Potential* for Additional Imports from the Finland, 2017
Top 10 Potential Products (HS 06). Aggregate theoretical potential is $7.4 BN
HS CODE
ACTUAL IMPORTS IN 2018 (US$)
POTENTIAL IMPORTS IN
2018 (US$)
271019
Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ...
11,000
3,115,607,000
271012
Light oils and preparations, of petroleum or bituminous minerals which >= 90% by volume "incl. ... -
2,170,749,000
890800
Vessels and other floating structures for breaking up
515,542,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
284,000
432,512,000
870323
Motor cars and other motor vehicles principally designed for the transport of persons, incl. ...
266,725,000
390210
Polypropylene, in primary forms
218,994,000
851762
Machines for the reception, conversion and transmission or regeneration of voice, images or ...
45,625,000
197,117,000
870322
20,000
190,077,000
390110
Polyethylene with a specific gravity of < 0,94, in primary forms
638,000
180,080,000
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 Finland exporters, ignoring competitiveness and
tariffs