1. Spain - Pakistan Trade

2. SPAIN WAS PAKISTAN’S EIGHTH 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% 10
Italy
771,593,000
EU is Pakistan’s largest export market and the UK is the most important export market within the EU

3. SPAIN WAS THE FOURTH LARGEST EXPORT DESTINATION WITHIN THE EU IN 2018
The EU is Pakistan’s largest export market representing 34% of exports
Spain accounted for 11% 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. SPAIN RANKS NO. 37 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% 37
Spain
208,638,000
0.35%
EU is Pakistan’s largest export market and the UK is the most important export market within the EU

5. WITHIN THE EU, SPAIN WAS THE EIGHTH 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.
Spain accounts for 4% of Pakistan’s imports from the EU and 0.35% of total imports from the world.
The UK is the second most important import supplying market of Pakistan in the EU

6. PAKISTAN SPAIN Trade Trends
Bilateral trade increased from US$ 0.94 bn in 2014 to US$ 1.13 bn in 2018 i.e. by 20.2% in five years
Pakistan’s exports to Spain rose by 16.9% during this period.
Meanwhile, Spain’s exports to Pakistan increased by 41.8% during these five years.
The trade surplus has increased during the last five years, from $642.7 Mn in 2014 to around $714.3 Mn in 2018.

7. PAKISTAN’S TOP 10 EXPORTS TO SPAIN
HS CODE
DESCRIPTION
EXPORT VALUE 2016 (US$)
EXPORT VALUE 2017 (US$)
EXPORT VALUE 2018 (US$)
620322
Men's or boys' ensembles of cotton (excluding knitted or crocheted, ski ensembles and swimwear)
74,101,000
211,115,000
222,719,000
620342
Men's or boys' trousers, bib and brace overalls, breeches and shorts, of cotton (excluding ...
101,300,000
58,044,000
57,855,000
630239
Bedlinen of textile materials (excluding of cotton and man-made fibres, printed, knitted or ...
44,688,000
45,874,000
48,290,000
610349
Men's or boys' trousers, bib and brace overalls, breeches and shorts of textile materials, ...
22,275,000
26,885,000
34,158,000
630260
Toilet linen and kitchen linen, of terry towelling or similar terry fabrics of cotton (excluding ...
23,831,000
30,095,000
32,824,000
630231
Bedlinen of cotton (excluding printed, knitted or crocheted)
26,040,000
27,391,000
32,573,000
630210
Bedlinen, knitted or crocheted
23,852,000
25,872,000
27,320,000
611090
Jerseys, pullovers, cardigans, waistcoats and similar articles, of textile materials, knitted ...
8,259,000
19,944,000
25,828,000
220710
Undenatured ethyl alcohol, of actual alcoholic strength of >= 80%
14,817,000
20,585,000
21,505,000
610590
Men's or boys' shirts of textile materials, knitted or crocheted (excluding of cotton or man-made ...
11,216,000
15,580,000
20,753,000

8. PAKISTAN’S TOP 10 IMPORTS FROM SPAIN
HS CODE
DESCRIPTION
IMPORT VALUE 2016 (US$)
IMPORT VALUE 2017 (US$)
IMPORT VALUE 2018 (US$)
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
12,758,000
11,766,000
11,271,000
320740
Glass frit and other glass in the form of powder, granules or flakes
3,833,000
5,598,000
10,285,000
720449
Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ...
5,485,000
6,647,000
8,999,000
150990
Olive oil and fractions obtained from the fruit of the olive tree solely by mechanical or other ...
5,120,000
6,527,000
7,340,000
630900
Worn clothing and clothing accessories, blankets and travelling rugs, household linen and articles ...
2,969,000
3,521,000
5,162,000
690722
Ceramic flags and paving, hearth or wall tiles, of a water absorption coefficient by weight ... -
3,480,000
5,150,000
760200
Waste and scrap, of aluminium (excluding slags, scale and the like from iron and steel production, ...
3,218,000
4,286,000
4,705,000
845180
Machinery for dressing, finishing, coating or impregnating textile yarns, fabrics or other ...
1,569,000
2,537,000
4,059,000
520100
Cotton, neither carded nor combed
3,711,000
6,359,000
3,993,000
690721
2,999,000
3,840,000

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 Spain, 2018
Top 10 Potential Products (HS 06). Aggregate Theoretical Potential is $10.4 bn
HS CODE
DESCRIPTION
ACTUAL EXPORTS IN 2018 (US$)
POTENTIAL EXPORTS IN 2018 (US$)
271012
Light oils and preparations, of petroleum or bituminous minerals which >= 90% by volume "incl. ...
8,000
3,720,911,000
271019
Medium oils and preparations, of petroleum or bituminous minerals, not containing biodiesel, ...
1,976,000
3,113,642,000
270900
Petroleum oils and oils obtained from bituminous minerals, crude -
767,948,000
870321
Motor cars and other motor vehicles principally designed for the transport of persons, incl. ...
542,106,000
390210
Polypropylene, in primary forms
31,000
539,107,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic purposes, ...
11,271,000
421,525,000
851712
Telephones for cellular networks "mobile telephones" or for other wireless networks
4,000
395,404,000
390110
Polyethylene with a specific gravity of < 0,94, in primary forms
552,000
336,398,000
870322
244,000
291,636,000
850231
Generating sets, wind-powered
33,000
284,395,000
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 Spain’s imports,
ignoring competitiveness and tariffs

11. ACTUAL IMPORTS IN 2018 (US$)
Pakistan’s Theoretical Potential* for Additional Imports from Spain, 2018
Top 10 Potential Products (HS 06). Aggregate theoretical potential is $ 4 bn
HS CODE
ACTUAL IMPORTS IN 2018 (US$)
POTENTIAL IMPORTS IN
2018 (US$)
851712
Telephones for cellular networks "mobile telephones" or for other wireless networks
69,000
833,005,000
720449
Waste and scrap of iron or steel (excluding slag, scale and other waste of the production of ...
138,078,000
811,168,000
300490
Medicaments consisting of mixed or unmixed products for therapeutic purposes
11,978,000
420,818,000
870321
Motor cars and other motor vehicles principally designed for the transport of persons, incl. ...
125,000
367,319,000
390110
Polyethylene with a specific gravity of < 0,94, in primary forms
15,000
336,935,000
390210
Polypropylene, in primary forms
11,000
302,525,000
870322
256,000
291,624,000
870323
631,000
266,094,000
847130
Data-processing machines, automatic, portable, weighing <= 10 kg, consisting of at least a ...
21,451,000
264,722,000
630900
Worn clothing and clothing accessories, blankets and travelling rugs, household linen
26,964,000
256,348,000
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 Spain exporters, ignoring competitiveness and
tariffs