1. LATVIA- Pakistan Trade

2. 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

3. 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

4. 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

5. 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

6. 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.

7. 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

8. 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

9. 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

10. 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