1. GREECE - Pakistan Trade

2. GREECE WAS PAKISTAN’S 44TH 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% 44
Greece
82,095,000
0.3%
EU is Pakistan’s largest export market and the UK is the most important export market within the EU

3. GREECE WAS THE 12TH LARGEST EXPORT DESTINATION WITHIN THE EU IN 2018
The EU is Pakistan’s largest export market representing 34% of exports
Greece accounted for 1% 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. GREECE RANKS NO. 75 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% 75
Greece
18,166,000
0.03%
EU is Pakistan’s largest export market and the UK is the most important export market within the EU

5. WITHIN THE EU, GREECE WAS THE 18TH 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.
Greece accounts for 0.3% of Pakistan’s imports from the EU and 0.03% of total imports from the world.
The UK is the second most important import supplying market of Pakistan in the EU

6. PAKISTAN GREECE Trade Trends
Bilateral trade increased from US$ 80 Mn in 2014 to US$ 100 Mn in 2018 i.e. by 25% in four years
Pakistan’s exports to Greece rose by 14% during this period, thanks to 14% growth in 2014, post GSP+
Meanwhile, Greece’s exports to Pakistan rose by 100% during the last five years.
The trade balance in 2018 is $64 Mn in favor of Pakistan

7. PAKISTAN’S TOP 10 EXPORTS TO GREECE
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 ...
10,024,000
10,744,000
12,500,000
630231
Bedlinen of cotton (excluding printed, knitted or crocheted)
4,977,000
6,691,000
8,619,000
630239
Bedlinen of textile materials (excluding of cotton and man-made fibres, printed, knitted or ...
2,495,000
3,591,000
5,152,000
100630
Semi-milled or wholly milled rice, whether or not polished or glazed
884,000
1,163,000
4,217,000
521021
Plain woven fabrics of cotton, containing predominantly, but < 85% cotton by weight, mixed ...
3,379,000
3,896,000
3,754,000
390319
Polystyrene, in primary forms (excluding expansible)
2,193,000
3,453,000
2,991,000
630210
Bedlinen, knitted or crocheted
1,880,000
2,894,000
2,302,000
520821
Plain woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 200 g/m², ...
940,000
1,203,000
1,915,000
420310
Articles of apparel, of leather or composition leather (excluding clothing accessories, footware ...
1,890,000
2,203,000
1,795,000
520512
Single cotton yarn, of uncombed fibres, containing >= 85% cotton by weight and with a linear ... -
9,000
1,215,000

8. PAKISTAN’S TOP 10 IMPORTS FROM GREECE
HS CODE
DESCRIPTION
IMPORT VALUE 2016 (US$)
IMPORT VALUE 2017 (US$)
IMPORT VALUE 2018 (US$)
520100
Cotton, neither carded nor combed
31,000
4,411,000
5,971,000
780110
Unwrought lead, refined -
2,895,000
720449
Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ...
845,000
1,179,000
1,075,000
200989
Juice of fruit or vegetables, unfermented, whether or not containing added sugar or other sweetening ...
366,000
1,115,000
983,000
860729
Brakes (other than air brakes), and parts thereof, for railway or tramway locomotives or rolling ...
728,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
19,000
17,000
616,000
410510
Skins of sheep or lambs, in the wet state "incl. wet-blue", tanned, without wool on, whether ...
518,000
842482
Agricultural or horticultural mechanical appliances, whether or not hand-operated, for projecting ...
261,000
486,000
841583
Air conditioning machines comprising a motor-driven fan, not incorporating a refrigerating ...
142,000
1,202,000
433,000
490199
Printed books, brochures and similar printed matter (excluding those in single sheets; dictionaries, ...
38,000
359,000

9. TRADE COMPLIMENTARITY*
* Trade complementarity is the ability of each country to satisfy the other’s import needs from its existing export pool

10. ACTUAL EXPORTS IN 2018 (US$) POTENTIAL EXPORTS IN 2018 (US$)
Pakistan’s Theoretical Potential* for Additional Exports to the Greece, 2017
Top 10 Potential Products (HS 06). Aggregate Theoretical Potential $1.4 Bn
HS CODE
DESCRIPTION
ACTUAL EXPORTS IN 2018 (US$)
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
901890
Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s.
352,000
199,872,000
610910
T-shirts, singlets and other vests of cotton, knitted or crocheted
1,084,000
159,214,000
170199
Cane or beet sugar and chemically pure sucrose, in solid form (excluding cane and beet sugar ...
128,211,000
620342
Men's or boys' trousers, bib and brace overalls, breeches and shorts, of cotton (excluding ...
1,095,000
107,597,000
20110
Carcases or half-carcases of bovine animals, fresh or chilled
91,089,000
620462
Women's or girls' trousers, bib and brace overalls, breeches and shorts of cotton (excluding ...
242,000
88,120,000
640399
Footwear with outer soles of rubber, plastics or composition leather, with uppers of leather ...
574,000
77,559,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
7,000
73,536,000
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 Greece’s imports,
ignoring competitiveness and tariffs

11. ACTUAL IMPORTS IN 2018 (US$)
Pakistan’s Theoretical Potential* for Additional Imports from the Greece, 2017
Top 10 Potential Products (HS 06). Aggregate theoretical potential is $8 BN
HS CODE
ACTUAL IMPORTS IN 2018 (US$)
POTENTIAL IMPORTS IN
2018 (US$)
271012
Light oils and preparations, of petroleum or bituminous minerals which >= 90% by volume "incl. ... -
3,143,323,000
271019
Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ...
57,000
3,115,561,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
616,000
432,180,000
520100
Cotton, neither carded nor combed
5,971,000
393,503,000
847130
Data-processing machines, automatic, portable, weighing <= 10 kg, consisting of at least a ...
1,000
286,172,000
390210
Polypropylene, in primary forms
239,912,000
271320
Petroleum bitumen
114,585,000
854449
Electric conductors, for a voltage <= V, insulated, not fitted with connectors, n.e.s.
112,855,000
80610
Fresh grapes
105,297,000
730890
Structures and parts of structures, of iron or steel, n.e.s. (excluding bridges and bridge-sections, ...
3,000
103,886,000
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 Greece exporters, ignoring competitiveness and
tariffs