Latvia-Pakistan Trade Insights and Trends

LATVIA- PAKISTAN TRADE 1

LATVIA WAS PAKISTANS 83RD LARGEST EXPORT DESTINATION IN 2018 RANK COUNTRY EXPORT VALUE (US$) % SHARE IN TOTAL EXPORTS World United States of America China United Kingdom Afghanistan Germany United Arab Emirates Netherlands Spain Bangladesh Latvia 23,630,893,000 3,802,500,000 1,818,069,000 1,728,637,000 1,347,934,000 1,310,444,000 983,575,000 942,802,000 922,898,000 783,825,000 21,587,000 1 2 3 4 5 6 7 8 9 83 16% 8% 7% 6% 6% 4% 4% 4% 3% 0.09% 2

LATVIA WAS THE 20TH LARGEST EXPORT DESTINATION WITHIN THE EU IN 2018 Latvia, 0.27% Portugal, 2.40% Others, 9.46% Poland, 2.94% United Kingdom, 21.62% The EU is Pakistan s largest export market representing 34% of exports France, 5.59% Belgium, 8.34% Latvia accounted for 0.27% of total EU exports from Pakistan in 2018. Germany, 16.39% Italy, 9.65% Netherlands, 11.79% Spain, 11.54% 3

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

WITHIN THE EU, LATVIA RANKED NO. 21 AS PAKISTANS EXPORT DESTINATIONS Latvia, 0.25% Austria, 3.40% EU is Pakistan s 3rd largest import partner after China and UAE. Spain, 3.82% Sweden, 4.73% Imports from the EU stood at $5.46 billion in 2018. Germany, 23.78% Belgium, 5.73% France, 8.37% Latvia accounts for 0.25% of Pakistan s imports from the EU and 0.02% of total imports from the world. Netherlands, 9.97% United Kingdom, 15.84% Italy, 11.42% 5

PAKISTAN LATVIA TRADETRENDS 60.0 51.0 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 37.6 40.0 26.0 21.6 17.3 20.0 13.7 12.8 10.2 9.2 9.0 Pakistan s exports to Latvia declined by 17% during this period 8.7 7.8 2.6 0.0 USD Millions 2014 2015 2016 2017 2018 Meanwhile, Latvia s exports to Pakistan also fell by 20.8% during the last five years. -20.0 -28.5 -40.0 -42.0 The trade balance in 2018 has reverted back to about the same as in 2014. -60.0 Years Exports to Latvia Imports from Latvia Trade Balance 6

PAKISTANS TOP 10 EXPORTS TO LATVIA EXPORT VALUE 2016 (US$) EXPORT VALUE 2017 (US$) EXPORT VALUE 2018 (US$) HS CODE DESCRIPTION Toilet linen and kitchen linen, of terry towelling or similar terry fabrics of cotton (excluding ... 630260 1,336,000 2,885,000 6,715,000 630231 Bedlinen of cotton (excluding printed, knitted or crocheted) Articles of apparel, of leather or composition leather (excluding clothing accessories, footware ... 726,000 1,240,000 2,867,000 420310 6,000 4,000 2,598,000 630210 Bedlinen, knitted or crocheted Men's or boys' singlets and other vests, bathrobes, dressing gowns and similar articles of ... 388,000 437,000 1,559,000 620791 67,000 106,000 666,000 100630 Semi-milled or wholly milled rice, whether or not polished or glazed Gloves, mittens and mitts, of leather or composition leather (excluding special sports gloves) Plain woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 100 g/m , ... Woven fabrics containing predominantly, but < 85% polyester staple fibres by weight, mixed ... Men's or boys' shirts of textile materials, knitted or crocheted (excluding of cotton or man-made ... 274,000 351,000 493,000 420329 321,000 462,000 455,000 520851 0 208,000 417,000 551423 0 139,000 327,000 610590 103,000 193,000 326,000 7

PAKISTANS TOP 10 IMPORTS FROM LATVIA IMPORT VALUE 2016 (US$) IMPORT VALUE 2017 (US$) IMPORT VALUE 2018 (US$) HS CODE DESCRIPTION 720441 Turnings, shavings, chips, milling waste, sawdust, filings, trimmings and stampings of iron ... Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ... Tropical wood specified in Subheading Note 1 to this chapter, sawn or chipped lengthwise, sliced ... Worn clothing and clothing accessories, blankets and travelling rugs, household linen and articles ... Wood in the rough, whether or not stripped of bark or sapwood, or roughly squared (excluding ... 4,473,000 2,010,000 5,257,000 720449 1,807,000 943,000 3,675,000 440729 2,810,000 3,143,000 1,687,000 630900 301,000 361,000 507,000 440399 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 Waste and scrap, of aluminium (excluding slags, scale and the like from iron and steel production, ... Wood, sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, ... 125,000 64,000 393,000 760200 64,000 118,000 246,000 440799 696,000 601,000 226,000 071320 Dried, shelled chickpeas "garbanzos", whether or not skinned or split - - 199,000 8

Pakistans Theoretical Potential* for Additional Exports to Latvia, 2018 Top 10 Potential Products (HS 06). Aggregate Theoretical Potential is $0.6 bn ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$) HS CODE DESCRIPTION 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 Flat-rolled products of iron or non-alloy steel, of a width of >= 600 mm, hot-rolled or cold-rolled ... *Theoretical potential from diverting Pakistan s existing exports from other countries to meet Latvia s imports, ignoring competitiveness and tariffs 721049 - 23,795,000 9

Pakistans Theoretical Potential* for Additional Imports from Latvia, 2018 Top 10 Potential Products (HS 06). Aggregate theoretical potential is $1.6 bn ACTUAL IMPORTS IN 2018 (US$) POTENTIAL IMPORTS IN 2018 (US$) HS CODE Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ... 300490 20,000 432,776,000 851712 Telephones for cellular networks "mobile telephones" or for other wireless networks 0 384,778,000 290243 P-Xylene 0 0 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, ... 0 223,022,000 291736 Terephthalic acid and its salts 0 0 720449 Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ... Structures and parts of structures, of iron or steel, n.e.s. (excluding bridges and bridge-sections, ... Steam and other vapour turbines, of an output > 40 MW (excluding those for marine propulsion) 3,675,000 151,328,000 730890 0 120,938,000 840681 0 0 290121 Ethylene 0 0 *Theoretical potential from switching imports from existing sources to Latvia s exporters, ignoring competitiveness and tariffs 10