REGIONAL BALTIC STATES

Transcription

1 INFONALYSIS APRIL 2018

2 Being short on energy resources, Pakistan s reliance on oil imports for fulfilling its energy demand, has long jeopardized the country s external sector. The share of exports in the overall GDP has declined to 5.3% in FY17 from 11% in FY12. Pakistan s remittances and investments have not been enough to support the debilitating current account deficit. Filling the gap through borrowings has already taken its toll on the foreign exchange reserves; which plummeted to mere $ 12 billion in the end of February 2018 as against $ billion a year earlier. The present scenario calls for instant boost in exports in order to provide respite to the deteriorating balance of payments position. Steps, taken by the government, have somehow pushed the exports to certain extent; however bottlenecks still exist in the way of exports promotion that needs proper redress. There is low product diversification coupled with limited market outreach which is hampering exports growth. The situation is calling for exploring new markets which offer export potential. The Baltic region is one such market lucrative for exports that has largely remained untapped despite being part of the Euro Zone and covered under GSP plus scheme. REGIONAL BALTIC STATES Located at the Eastern shore of Baltic Sea 1 ; Latvia, Lithuania and Estonia are widely known as Baltic States. These states are connected geographically and are the part of Northern Central Europe. The three countries have fundamentally adopted free market and trade liberalization reforms since their independence in Most of the population of these states are fluent in Russian language. They, combined, form a population of around 6.15Mn. Being a part of European Union (EU), all three states have their GSP Plus agreement with Pakistan which came into force in December 2014 providing concessional access to Pakistani products. The total export quantum directed to the Baltic States is below $ 40 Million where India s exports exceed 163 Million. It can be observed through the table (below) that Pakistan s export to all the three Baltic States have declined over the years instead of gaining momentum due to the GSP+ benefit. Pakistan mostly export textiles to the Baltic region however, the region also hold potential of export of footwear, plastic items, ceramics, furniture, surgical equipment, sports goods, fruits, confectionary, cereals, spices, leather and animal fodder. The Baltic region import high value added finished goods from all over the world. 1

3 Pakistan Vs. Neighboring Countries' Export to Baltic States ($ Mn) Year Lithuania Latvia Estonia Pakistan s Export India's Export Bangladesh's Export Pakistan's Export India's Export Bangladesh's Export Pakistan's Export India's Export Bangladesh's Export Source: KCCI Research, Trademap TEXTILE IMPORT OF BALTIC STATES All the three Baltic States; Latvia, Lithuania & Estonia, import various raw materials and value added finished textile goods. According to the estimates of 2016, their regional textile import stood around $ 2.4Bn. However, Pakistan, whose textile sector accounts for more than 60% of country s revenue generation, has a meagre 0.8% share in these imports where only $ 38Mn worth of textile items are imported from Pakistan. Economic Indicators (2017) Indicators Latvia Lithuania Estonia Population Literacy rate 99.9% 99.80% 99.80% GDP (PPP) GDP (Real Growth Rate) 3.8% 3.50% 4.0% GDP (Per Capita Income) 27,300 31,900 31,500 Unemployment Rate 9% 7% 8.4% Consumer Price Indices 3% 3.5% 3.80% Discount Rate 0% 0% 0% Avg. Commercial Bank Lending Rate 4.6% 2.9% 4.20% Current Account Balance Exports of Goods Imports of Goods Balance of Trade Foreign Exchange Reserve External Debt Direct Investment in Reporting Economy Direct Investment abroad Source: KCCI Research, World Factbook

4 The region has great demand for Knitted/Crocheted fabrics (imports of $ Mn), Knitted Apparel Articles & Clothing Accessories ($ Mn), Not Knitted Apparel Articles & Clothing Accessories ($ Mn) and Made-up Textile Articles (imports of $ Mn). Owing to the weak technological base in the downstream industry, Pakistan produces lesser quality made ups that are not in demand in the international markets. Pakistan is also not targeting western style clothing to penetrate in the market even though the fabric of Pakistan holds good demand in the region. In spite of enjoying low import tariffs under GSP Plus with the Baltic States, regional import of Knitted/Crocheted fabrics from Pakistan is merely $ 0.03Mn, import of Knitted Apparel Articles & Clothing Accessories is $ 2.41Mn, imports of Not Knitted Apparel Articles & Clothing Accessories is $ 4.62Mn and imports of Made-up Textile Articles is $ 9.61Mn. % S H A R E O F PA K I S TAN'S T E X T I L E I M P O RT S I N BA LT I C R E G I O N Textile imports from Pakistan 2% Cotton 0.6% Baltic States' Textile Import from rest of the World 98% Others 0.2% Unknit Apparel Artcl 0.2% Man-made fibres 0.2% Other made ups 0.4% Source: KCCI Research, Trademap Countries like India, Sri Lanka, and Korea have made heavy investments in machines for manufacturing high quality made ups which helped them in capturing and sustaining market shares in the world. Similarly, modern air-jet, projectile looms and shuttle-less looms of wider width are also not widely deployed which are required for producing quality fabrics. Pakistani mill owners mostly invest in the spinning and weaving that are part of upstream industry due to which finished goods industry has not been able to upgrade its capability for producing finished goods. There is also a great demand of raw materials for manufacturing value added textile items.

5 Cumulative Textile Imports of Baltic Region (Values in $ Million) HS Code Products Textile Imports Imports from Pakistan 50 Silk Wool, fine or coarse animal hair; horsehair yarn, woven fabrics Cotton Other vegetable textile fibers; paper yarn and woven fabrics of paper yarn Man-made filaments; strip, the like of man-made textile materials Man-made staple fibers Wadding, felt & non-woven; special yarns; twine, cordage, ropes, cables Carpets, other textile floor coverings Special woven fabrics; tufted Tex. fabrics; lace; tapestries, trimmings; embroidery Coated, covered, laminate tex. Fabrics, textile artcl. for industrial use Knitted or crocheted fabrics Articles of apparel and clothing accessories, knitted or crocheted Articles of apparel and clothing accessories, not knitted or crocheted Other made up textile artcl.; sets; worn clothing, worn textile articles; rags Source: KCCI Research, Trademap There are several categories of textile which are in significant demand which is largely met by imports from other countries like India and Bangladesh while Pakistan also holds the needed manufacturing capability. The high potential textile products which can be exported by Pakistan to this region mainly include items in categories of Wool not carded/nor combed (HS Code: 5101), Woven fabric of cotton (mixed) (5210, 5212), Woven fabrics of synthetic filament yarn (5407), Woven fabrics synthetic staple fibers (5513, 5514, 5515), carpets other than floor coverings (5702), Braids of textile materials (5808), Embroidery on a textile fabric ground (5810) etc. (See Annexures for further details)

6 LATVIA A BRIEF OVERVIEW DETAILED ANALYSIS OF EACH BALTIC STATE The name "Latvia" originates from the ancient Latgalians, one of four Eastern Baltic tribes that formed the ethnic core of the Latvian people (ca. 8th-12th centuries A.D.). The region subsequently came under the control of Germans, Poles, Swedes, and finally, Russians. A Latvian republic emerged following World War I, but it was annexed by the USSR in an action never recognized by the US and many other countries. Latvia reestablished its independence in 1991 following the breakup of the Soviet Union. 2 ECONOMY OF LATVIA Latvia is a small, open economy with exports contributing nearly a third of GDP. Due to its geographical location, transit services are highly-developed, along with timber and wood-processing, agriculture and food products, and manufacturing of machinery and electronics industries. Latvia's low birth rate and decreasing population are major challenges to its long-term economic vitality. The IMF, EU, and other international donors provided substantial financial assistance to Latvia as part of an agreement to defend the currency s peg to the euro in exchange for the government s commitment to stringent austerity measures. The IMF/EU program successfully concluded in December The majority of companies, banks, and real estate have been privatized, although the state still holds sizable stakes in a few large enterprises, including 99.8% ownership of the Latvian national airline. Latvia officially joined the World Trade Organization in February 1999 and the EU in May Latvia joined the euro zone in KEY AGRI-PRODUCTS & INDUSTRIES The country s major agricultural products include grain, rapeseed, potatoes, vegetables; pork, poultry, milk, eggs and fish. Latvia has several important industries which include processed food, processed wood product, textile, processed metal, pharmaceutical, railroad car, synthetic fiber and electronic. MAJOR TRADING PARTNERS Latvian export partners are Lithuania (17.3%), Estonia (11.5%), Russia (11.4%), Germany (6.8%), Sweden (5.7%), U.K. (5.3%), Poland (5%) and Denmark (4.4%). The country s import partners are Lithuania (16.9%), Germany (12.3%), Poland (10.4%), Russia (7.4%), Estonia (7.9%), Finland (4.3%) and Netherlands (4.3%). 2

7 Latvia's Trade - Commodity Wise (2017) Top 10 Import Items ($ Mn) Top 10 Export Items ($ Mn) Electrical mach. & equip. 1,786.2 Wood & articles; charcoal 2,141.6 Machinery, mech. Apps 1,768.7 Electrical mach. & equip. 1,446.4 Mineral fuels, oils 1,441.0 Machinery, mech. Apps 1,023.5 Vehicles other than railway 1,347.9 Beverages, spirits, vinegar Beverages, spirits, vinegar Vehicles other than railway Plastics & articles thereof Mineral fuels, oils, products Pharmaceuticals Pharmaceuticals Iron and steel Iron and steel Wood & articles; charcoal Cereals Articles of iron/steel Articles of iron/steel Source: KCCI Research, Trademap DIPLOMATIC RELATIONS BETWEEN PAKISTAN AND LATVIA Latvia maintains an Honorary Consul in Karachi. Pakistan's Ambassador in Sweden is accredited as a non-residential ambassador to Latvia. There is also a growing number of Pakistanis (mostly university students) living in capital Riga. Pakistan's Trade with Latvia - Commodity Wise (2017) Latvia's export to Pakistan ($ Mn) Latvia's import from Pakistan ($ Mn) Iron & steel 7.54 Cotton 2.21 Wood, its articles 4.34 Other Made up Tex. Artcl Edible veg., roots, tubers 2.08 Leather articles 0.40 Articles of iron or steel 1.43 Cereals 0.39 Copper, articles thereof 0.43 Knit Apparel Articl.,clothing Accessory 0.36 Electrical mach. & equip Edible fruit, nuts 0.18 Plastics & articles thereof 0.24 Man-made staple fibers 0.13 Aluminum, articles thereof 0.21 Unknit Apparel Articl.,clothing Accessory 0.11 Aircraft, parts thereof 0.13 Ceramics 0.03 Mineral fuels, oils 0.08 Tools, implements, cutlery 0.02 Source: KCCI Research, Trademap TRADE RELATIONS BETWEEN PAKISTAN AND LATVIA During FY17, Pakistan exported goods of worth $ 8.56Mn as against exports of $ 4.68Mn in the same period of last year showing increase of 83%. Pakistan's import from Latvia stood at $ 12.04Mn as against imports of $ 40.84Mn in the same period last year, depicting a decline of 71%. The overall trade between both the countries stood at ~ $ 20.60Mn in FY17, making trade balance favorable for Latvia.

8 TRADE BETWEEN PAKISTAN AND LATVIA (FY04-8MFY18) Trade Balance ($ Mn) Pak. Exports ($ Mn) Pak. Imports ($ Mn) Note: Trade data may differ from Trademap, UNCom Trade & PBS Source: KCCI Research, SBP POTENTIAL FOR ENHANCING TRADE BETWEEN LATVIA AND PAKISTAN As Pakistan mainly imports iron and steel from Latvia, the country can play an important role in the ongoing development related to CPEC. Exports can be improved through effective utilization of the GSP plus status given to Pakistan by EU. Pakistan can look to export ceramics, leather, footwear, furniture, articles of plastics, carpets, glassware, pharmaceuticals, meat, fish, and confectionary items. There is also a lot of potential for Pakistani agricultural products in Latvian markets. OTHER INFORMATION: Capital City : Riga Currency : Euro Consulate : Latvian Honorary Consulate in Islamabad, Pakistan Address : 78 Margalla Road F6/2, Islamabad, Pakistan Telephone : (+92) FAX (+92) h.c@latvia-consulate.org.pk Website : Airport : Vilnius International Airport Main Hotels : Avalon Hotel & Conferences; Tallink Hotel; Radisson Blu Daugava Hotel, Riga

9 A BRIEF OVERVIEW LITHUANIA Lithuania has once remained the largest economy of Europe at the end of 14th century. An alliance with Poland in 1386 led the two countries into a union through the person of a common ruler. In 1569, Lithuania and Poland formally united into a single dual state, the Polish-Lithuanian Commonwealth. This entity survived until 1795 when its remnants were partitioned by surrounding countries. On March 11, 1990, Lithuania became the first of the Soviet republics to declare its independence, but Moscow did not recognize this proclamation until September of Lithuania subsequently restructured its economy for integration into Western European institutions 3. ECONOMY OF LITHUANIA Lithuania's trade with its Central and Eastern European neighbors, and Russia in particular, accounts for a significant share of total trade. Foreign investment and business support have helped in the transition from the old command economy to a market economy. Lithuania's economy grew on average 8% per year for the four years prior to 2008 driven by exports and domestic demand. However the country showed 2.3% growth in its GDP in The government's efforts to attract foreign investment, develop export markets, and to pursue broad economic reforms has been key to Lithuania's quick recovery from a deep recession post 2008, making country one of the fastest growing economies in the EU. With government efforts, the unemployment has dropped to 7.9% in 2016 from 13.2% in KEY AGRI-PRODUCTS & INDUSTRIES The key agricultural products of Lithuania include grain, potatoes, sugar beets, flax, vegetables; beef, milk, eggs and fish. Its key industries include metal-cutting machine tools, electric motors, television sets, refrigerators and freezers, petroleum refining, shipbuilding (small ships), furniture making, textiles, food processing, fertilizers, agricultural machinery, optical equipment, electronic components, computers and amber jewelry. MAJOR TRADING PARTNERS The country s key export partners are Russia (13.5%), Latvia (9.9%), Poland (9.1%), Germany (7.7%), Estonia (5.3%), US (5.2%), Sweden (4.8%) and UK (4.3%). Lithuania s major import partners are Russia (32.5%), Germany (9.8%), Poland (9.8%), Latvia (6.1%), and Netherlands (5.5%). 3

10 LITHUANIA'S TRADE - COMMODITY WISE (2017) Top 10 Imports Items Top 10 Exports Items Mineral fuels, oils 6,101 Mineral fuels, oils 4,437 Machinery, mech. Apps 3,421 Machinery, mech. Apps 2,643 Vehicles other than railway 3,006 Furniture; bedding 2,194 Electrical mach. & equip. 2,529 Electrical mach. & equip. 2,081 Plastics & articles thereof 1,510 Plastics & articles thereof 1,787 Pharmaceuticals 1,138 Vehicles other than railway 1,468 Organic chemicals 727 Wood & articles 1,085 Iron and steel 705 Fertilizers 806 Articles of iron or steel 689 Pharmaceuticals 797 Wood & articles 684 Optical, photographic 763 Source: KCCI Research, Trademap TRADING COMMODITIES BETWEEN PAKISTAN AND LITHUANIA Major trading commodities between the two countries are cotton, textile articles, sets, worn clothing, pharmaceutical products, cereals, dairy products, eggs, honey, edible animal product, ships, boats and other floating structures, electrical, electronic equipment. PAKISTAN'S TRADE WITH LITHUANIA - COMMODITY WISE (2017) Top 10 Pakistan's Import Top 10 Pakistan's Export Iron and steel 0.99 Cotton 6.96 Electrical mach. & equip Other made-up textile artcl Other made-up textile articles 0.87 Man-made staple fibbers 3.79 Optical, photographic 0.80 Cereals 1.51 Machinery, mech. Apps 0.48 Leather Articles; saddlery 1.39 Edible veg., roots, tubers 0.40 Unknitted Apparel Articles 0.65 Wood & articles 0.29 Edible fruit and nuts 0.42 Misc. chemicals 0.24 Man-made filaments 0.29 Copper, articles thereof 0.24 Wool, fine animal hair 0.13 Aluminum, articles thereof 0.16 Residues, waste from food industries 0.12 Source: KCCI Research, Trademap ECONOMIC RELATIONS BETWEEN PAKISTAN AND LITHUANIA In the Fiscal Year 2017, Pakistan's exports to Lithuania declined 6.84% to $ 22.84Mn as against exports of $ 24.51Mn a year earlier. Imports from Pakistan also dropped 21% from Lithuania to $ 5.50Mn from $ 6.99Mn a year ago. During the period under review, trade volume between the two countries was ~ $ 28Mn.

11 TRADE BETWEEN PAKISTAN AND LITHUANIA (FY04-5MFY18) Trade Balance ($ Mn) Pak. Exports ($ Mn) Pak. Imports ($ Mn) Note: Trade data may differ from Trademap, UNCom Trade & PBS Source: KCCI Research, SBP POTENTIAL FOR ENHANCING BILATERAL TRADE BETWEEN LITHUANIA & PAKISTAN There is much potential of enhancing trade between the two nations. Items like confectionary, plastics, pharmaceuticals, animal fodder and leather can be further exported to Lithuania. OTHER INFORMATION: Capital City : Vilnius Currency : Euro Consulate : Lithuanian Honorary Consulate General in Islamabad Contact : Mr. Mohamed Masud Khan, Honorary Consul General. Address : No. 1-A, Block R, Shahid Plaza, Main Blue Area, Islamabad, Pakistan. Telephone : (+92) (+92) lithuania.pak@gmail.com; lithuania@khyberint.com. Airport : Vilnius International Airport Main Hotels : Narutis Hotel; Radisson Blu Royal Astorija Hotel (Vilnius)

12 OVERVIEW OF ESTONIA ESTONIA Estonia is the fastest developed economy in the Baltic region with open and flexible economic policy in place. The state is least populous in whole Schengen Area, NATO, OECD, Eurozone and European Union having only 1.3Mn residents. Estonia has outpaced other regional Baltic states with regard to the construction services, business services and travel services. The country firstly introduced one of its kind E-Residency to the non-residents through which it has become easier for the businessmen to flourish new industry in Estonia. ESTONIAN ECONOMY The Estonian government has always adhered to the strategy of free trade and liberal investment laws based on balanced budget. The exports of services constitute around 26% of the country s GDP. It is expected that the state will further stabilize with economic growth of approximately 3% in the Estonia s banking system is efficient and modern having well connected Scandinavian structure. The VAT system is harmonized with EU prerequisites fixed at 20%. Income tax has also remained low for long time at 20% flat tax rate with no other extra hidden taxes. However, redistributed profits are subject to tax at the rate of 20%. The cost of basic facilities including telecommunications, transport services, property expenses, labor and energy is comparatively lower in Estonia than rest of the Baltic States. Nonetheless, quality of products in the country have earned good reputation. Estonian government provides level playing field to its foreign investors with respect to local firms with the right to own a land along with the unlimited profit and capital repatriation facilities. The presence of free economic zones at Muuga Port and Silamae in Estonia coupled with the mushroom growth of industrial parks has further made it an attractive destination for investors. ESTONIA'S TRADE - COMMODITY WISE (2017) Top 10 Imports Items Top 10 Exports Items Electric mach. & equip Electric mach. & equip Vehicles other than railway Wood & articles Machinery, Mech. Apps Mineral fuels, oils Mineral fuels, oils Machinery, Mech. Apps Plastics & articles thereof Furniture; bedding Iron & steel Vehicles other than railway Wood & articles Articles of iron/steel Pharmaceuticals Optical, measuring Articles of iron/steel Plastics & articles Ships, boats and floating structures Iron and steel Source: KCCI Research, Trademap

13 KEY AGRI-PRODUCTS & INDUSTRIES Key agri products are grain, potatoes, vegetables, livestock, dairy products and fish. It major industries are food, engineering, electronics, wood and wood products, textiles; IT and telecommunications. MAJOR TRADING PARTNERS The major export partners of Estonia are Sweden (17.9%), Finland (16%), Latvia (9.2%), Russia (6.5%), Lithuania (6%), Germany (5.9%) and Norway (4.1%). PAKISTAN'S TRADE WITH ESTONIA - COMMODITY WISE (2017) Top 10 Pakistan s Export Top 10 Pakistan s Import Cotton 2.90 Pulp of wood 0.86 Other made-up textile articles 2.54 Iron and steel 0.74 Leather Articles; saddlery 2.02 Edible veg., roots, tubers 0.67 Man-made staple fibres 1.34 Machinery, mech. apps Unknit Apparel Artcl., clothing accessories 1.30 Wood & its articles 0.36 Knit Apparel Artcl.,clothing accessories 0.52 Aluminum & articles thereof 0.26 Cereals 0.05 Other made-up textile articles 0.22 Salt; sulphur; earths, stone 0.05 Electric mach. & equip Toys, games, sports requisites 0.04 Organic chemicals 0.13 Tools, implements, cutlery 0.04 Mineral fuels & oils 0.11 Source: KCCI Research, Trademap The country mainly imports products from Finland (13%), Germany (11%), Lithuania (9%), Sweden (8.3%), Latvia (8.2%), Poland (7.2%), Netherlands (6.3%), Russia (5.7%) and China (4.8%). ECONOMIC RELATIONS BETWEEN PAKISTAN AND ESTONIA If both the countries have their respective embassies or consulates in each other s territory, it will help strengthen relationships between both the countries and mutually benefit people belonging to both the countries. In an effort to entice Pakistani businesses to invest in Estonia, govt. has allowed non-residents to own 100% of the corporate rights of Estonian enterprises. In this regard, Pakistani businesses can enjoy benefit of the current rules by setting up their branch offices or open new businesses in Estonia. It would give them full access and representation in the European markets. BILATERAL TRADE RELATIONS BETWEEN PAKISTAN AND ESTONIA Pakistan and Estonia share healthy bilateral relations among each other. During Fiscal Year 2017, Pakistan exported goods of worth $ 13.28Mn as against exports of $ 12.85Mn. Pakistan's import from Estonia stood at $ 3.82Mn as compared to $ 3.80Mn a year before.

14 TRADE BETWEEN PAKISTAN AND ESTONIA (FY04-7MFY18) Pak. Exports ($ Mn) Pak. Imports ($ Mn) Trade Balance ($ Mn) Note: Trade data may differ from Trademap, UNCom Trade & PBS Source: KCCI Research, SBP POTENTIAL FOR ENHANCING TRADE BETWEEN ESTONIA AND PAKISTAN Pakistan can export petroleum oils & bituminous oils minerals to Estonia as the country import the petroleum oils in bulk quantity from other parts of the world. Estonia has large imports of Electronic integrated circuits from around the world. By enhancing its manufacturing of Electronic Integrated Circuits, Pakistan can bolster its export to Estonia. Items such as footwear, cutlery, leather, articles of iron, steel and other metals, ceramics, sports goods, furniture and carpets holds good scope of exports to Estonia from Pakistan. OTHER INFORMATION Capital City : Tallinn Currency : Euro Airport : Lennart Meri Tallinn Airport Consulate : Estonian Consulate General in Islamabad Address : 22-B, F-7/1, Main Nazimuddin Road Islamabad Pakistan Telephone : (+92) (51) Main Hotels : My City Hotel (Tallinn); Kreutzwald Hotel (Tallinn); Radisson Blu Hotel Olumpia

15 CONCLUSION The Baltic States have been perceived as a single market economy as they share similar geographic, historical and weather conditions along with open market economies. Pakistan s export sector has globally suffered set back in its various export categories due to low value addition and fragmented market structure. Though, Pakistan has GSP Plus agreement with the European Union since December 2014, its trade with Baltic States (part of EU) has been continuously showing a declining trend. Among all the three states, Estonia is the fastest developing economy having exports to GDP ratio of 80% in However, Pakistan s exports to Estonia has dropped significantly in comparison to its neighboring country Bangladesh s whose exports to the same has rose considerably in the past two years where exports of India to Estonia has also grown significantly. Given this, Pakistani exporters should diversify their export items, improve quality and look for new products that can be exported to these states. Pakistani businessmen should participate in trade fairs being held in Baltic States in order to exhibit their products and services. Exchanging business delegations to and from Baltic States, and building trade ties would also bolster bilateral trade and cooperation between Pakistan and these countries.

16 Product code Product label ANNEXURES Textile Imports of Baltic States from Pakistan ($ Mn) LATVIA LITHUANIA ESTONIA Pakista Pakistan World Pakistan World n '5003 Silk waste, incl. cocoons unsuitable for reeling, yarn waste and garnetted stock N/A N/A Silk yarn (excluding that spun from silk waste and that put up for '5004 retail sale) '5007 Woven fabrics of silk or of silk waste '5101 Wool, neither carded nor combed '5103 Waste of wool or of fine or coarse animal hair, incl. yarn waste (excluding garnetted stock, '5105 Wool and fine or coarse animal hair, carded or combed, incl. combed wool in fragments '5106 Carded wool yarn (excluding that put up for retail sale) '5107 Yarn of combed wool (excluding that put up for retail sale) '5108 Carded or combed yarn of fine animal hair (excluding that of wool or that put up for retail '5109 Yarn of wool or fine animal hair, put up for retail sale '5111 Woven fabrics of carded wool or of carded fine animal hair (excluding fabrics for technical Woven fabrics of combed wool or of combed fine animal hair (excluding fabrics for technical '5112 '5201 Cotton, neither carded nor combed '5202 Cotton waste, incl. yarn waste and garnetted stock '5203 Cotton, carded or combed '5204 Cotton sewing thread, whether or not put up for retail sale '5205 Cotton yarn other than sewing thread, containing >= 85% cotton by weight (excluding that put '5206 Cotton yarn containing predominantly, but < 85% cotton by weight (excluding sewing thread and '5207 Cotton yarn put up for retail sale (excluding sewing thread) '5208 Woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 200 g/m² '5209 Woven fabrics of cotton, containing >= 85% cotton by weight and weighing > 200 g/m² '5210 Woven fabrics of cotton, containing predominantly, but < 85% cotton by weight, mixed principally '5211 Woven fabrics of cotton, containing predominantly, but < 85% cotton by weight, mixed principally '5212 Woven fabrics of cotton, containing predominantly, but < 85% cotton by weight, other than those '5301 Flax, raw or processed, but not spun; flax tow and waste, incl. yarn waste and garnetted stock '5302 True hemp "Cannabis sativa L.", raw or processed, but not spun; tow and waste of true hemp, '5303 Jute and other textile bast fibres, raw or processed, but not spun; tow and waste of such fibres, '5305 Coconut, abaca "Manila hemp or Musa textilis Nee", ramie, agave and other vegetable textile '5306 Flax yarn '5307 Yarn of jute or of other textile bast fibres of heading '5308 Yarn of vegetable textile fibres; paper yarn (excluding flax yarn, yarn of jute or of other '5309 Woven fabrics of flax '5310 Woven fabrics of jute or of other textile bast fibres of heading '5311 Woven fabrics of other vegetable textile fibres; woven fabrics of paper yarn (excluding those '5401 Sewing thread of man-made filaments, whether or not put up for retail sale World

17 Textile Imports of Baltic States from Pakistan ($ Mn) Product code Product label LATVIA LITHUANIA ESTONIA Pakistan World Pakistan World Pakistan World Wo Artificial filament yarn, incl. artificial monofilament of < 67 decitex '5403 (excluding sewing thread Synthetic monofilament of >= 67 decitex and with a cross sectional '5404 dimension of <= 1 mm; strip Artificial monofilament of >= 67 decitex and with a cross sectional '5405 dimension of <= 1 mm; strip Man-made filament yarn, put up for retail sale (excluding sewing '5406 thread) Woven fabrics of synthetic filament yarn, incl. monofilament of >= ' decitex and with a cross Woven fabrics of artificial filament yarn, incl. monofilament of >= ' decitex and a maximum '5501 Synthetic filament tow as specified in Note 1 to chapter '5502 Artificial filament tow as specified in Note 1 to chapter Synthetic staple fibres, not carded, combed or otherwise processed '5503 for spinning Artificial staple fibres, not carded, combed or otherwise processed '5504 for spinning Waste of man-made staple fibres, incl. noils, yarn waste and '5505 garnetted stock Synthetic staple fibres, carded, combed or otherwise processed for '5506 spinning Sewing thread of man-made staple fibres, whether or not put up for '5508 retail sale Yarn of synthetic staple fibres (excluding sewing thread and yarn '5509 put up for retail sale) Yarn of artificial staple fibres (excluding sewing thread and yarn '5510 put up for retail sale) Yarn of man-made staple fibres, put up for retail sale (excluding '5511 sewing thread) '5512 Woven fabrics containing >= 85% synthetic staple fibres by weight Woven fabrics containing predominantly, but < 85% synthetic '5513 staple fibres by weight, mixed Woven fabrics containing predominantly, but < 85% synthetic '5514 staple fibres by weight, mixed Woven fabrics containing predominantly, but < 85% synthetic '5515 staple fibres by weight, other '5516 Woven fabrics of artificial staple fibres '5601 Wadding of textile materials and articles thereof; textile fibres with a length of <= 5 mm '5602 Felt, whether or not impregnated, coated, covered or laminated, n.e.s '5603 Nonwovens, whether or not impregnated, coated, covered or laminated, n.e.s '5604 Textile-covered rubber thread and cord; textile yarn, strip and the like of heading 5404 and '5605 Metallised yarn, whether or not gimped, being textile yarn, or strip or the like of heading '5606 Gimped yarn, gimped strip and the like of heading 5404 or 5405; chenille yarn, incl. flock '5607 Twine, cordage, ropes and cables, whether or not plaited or braided and whether or not impregnated '5608 Knotted netting of twine, cordage or rope, by the piece or metre; made-up fishing nets and '5609 Articles of yarn, strip or the like of heading 5404 or 5405, or of twine, cordage, ropes or '5701 Carpets and other textile floor coverings, of textile materials, knotted, whether or not made '5702 Carpets and other textile floor coverings, woven, not tufted or flocked, whether or not made '5703 Carpets and other textile floor coverings, tufted "needle punched", whether or not made up '5704 Carpets and other floor coverings, of felt, not tufted or flocked, whether or not made up

18 Textile Imports of Baltic States from Pakistan ($ Mn) Prod uct Product label Code LATVIA LITHUANIA ESTONIA Pakistan World Pakistan World Pakistan '5705 Carpets and other textile floor coverings, whether or not made up (excluding knotted, woven '5801 Woven pile fabrics and chenille fabrics (excluding terry towelling and similar woven terry '5802 Terry towelling and similar woven terry fabrics, tufted textile fabrics (excluding narrow woven '5803 Gauze (excluding narrow woven fabrics of heading 5806) '5804 Tulles and other net fabrics (excluding woven, knitted or crocheted fabrics); lace in the piece, '5806 Narrow woven fabrics of textile materials, with a width of <= 30 cm (excluding labels, badges '5807 Labels, badges and similar articles, of textile materials, in the piece, in strips or cut to '5808 Braids of textile materials, in the piece; ornamental trimmings of textile materials, in the '5809 Woven fabrics of metal thread and woven fabrics of metallised yarn of heading 5605, of a kind '5810 Embroidery on a textile fabric ground, in the piece, in strips or in motifs '5811 Quilted textile products in the piece, composed of one or more layers of textile materials '5901 Textile fabrics coated with gum or amylaceous substances, of a kind used for the outer covers '5902 Tyre cord fabric of high-tenacity yarn of nylon or other polyamides, polyesters or viscose '5903 Textile fabrics impregnated, coated, covered or laminated with plastics (excluding tyre cord '5904 Linoleum, whether or not cut to shape; floor coverings consisting of a coating or covering '5905 Textile wallcoverings '5906 Rubberised textile fabrics (excluding tyre cord fabric of hightenacity yarn of nylon or other '5907 Impregnated, coated or covered textile fabrics; painted canvas being theatrical scenery, studio '5908 Textile wicks, woven, plaited or knitted, for lamps, stoves, lighters, candles or the like; '5909 Textile hosepiping and similar textile tubing, whether or not impregnated or coated, with or '5910 Transmission or conveyor belts or belting, of textile material, whether or not impregnated, '5911 Textile products and articles, for technical use, specified in Note 7 to chapter '6001 Pile fabrics, incl. "long pile" fabrics and terry fabrics, knitted or crocheted '6002 Knitted or crocheted fabrics, of a width <= 30 cm, containing by weight >= 5% of elastomeric '6003 Knitted or crocheted fabrics, of a width <= 30 cm (excluding those containing by weight >= '6004 Knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric '6005 Warp knit fabrics "incl. those made on galloon knitting machines", of a width of > 30 cm (excluding '6006 Fabrics, knitted or crocheted, of a width of > 30 cm (excluding warp knit fabrics "incl. those '6101 Men's or boys' overcoats, car coats, capes, cloaks, anoraks, incl. ski jackets, windcheaters, '6102 Women's or girls' overcoats, car coats, capes, cloaks, anoraks, incl. ski jackets, windcheaters, '6103 Men's or boys' suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches '6104 Women's or girls' suits, ensembles, jackets, blazers, dresses, skirts, divided skirts, trousers, '6105 Men's or boys' shirts, knitted or crocheted (excluding nightshirts, T- shirts, singlets and World

19 Textile Imports of Baltic States from Pakistan ($ Mn) Prod uct Code Product Label LATVIA LITHUANIA Pakistan World Pakistan World ESTONIA Pakistan '6106 Women's or girls' blouses, shirts and shirt-blouses, knitted or crocheted (excluding T-shirts '6107 Men's or boys' underpants, briefs, nightshirts, pyjamas, bathrobes, dressing gowns and similar '6108 Women's or girls' slips, petticoats, briefs, panties, nightdresses, pyjamas, négligés, bathrobes, '6109 T-shirts, singlets and other vests, knitted or crocheted '6110 Jerseys, pullovers, cardigans, waistcoats and similar articles, knitted or crocheted (excluding '6111 Baby garments & clothing accessories, knitted or crocheted (ex. hats) '6112 Track-suits, ski-suits and swimwear, knitted or crocheted '6113 Garments, knitted or crocheted, rubberised or impregnated, coated or covered with plastics '6114 Special garments for professional, sporting or other purposes, n.e.s., knitted or crocheted '6115 Pantyhose, tights, stockings, socks and other hosiery, incl. graduated compression hosiery '6116 Gloves, mittens and mitts, knitted or crocheted (excluding for babies) '6117 Made-up clothing accessories, knitted or crocheted; knitted or crocheted parts of garments '6202 Women's or girls' overcoats, car coats, capes, cloaks, anoraks, incl. ski jackets, windcheaters, '6203 Men's or boys' suits, ensembles, jackets, blazers, trousers, bib and brace overalls, breeches '6204 Women's or girls' suits, ensembles, jackets, blazers, dresses, skirts, divided skirts, trousers, '6205 Men's or boys' shirts (excluding knitted or crocheted, nightshirts, singlets and other vests) '6206 Women's or girls' blouses, shirts and shirt-blouses (excluding knitted or crocheted and vests) '6207 Men's or boys' singlets and other vests, underpants, briefs, nightshirts, pyjamas, bathrobes, '6208 Women's or girls' singlets and other vests, slips, petticoats, briefs, panties, nightdresses, '6209 Babies' garments and clothing accessories of textile materials (excluding knitted or crocheted '6210 Garments made up of felt or nonwovens, whether or not impregnated, coated, covered or laminated '6211 Tracksuits, ski suits, swimwear and other garments, n.e.s. (excluding knitted or crocheted) '6212 Brassieres, girdles, corsets, braces, suspenders, garters and similar articles and parts thereof, '6213 Handkerchiefs, of which no side exceeds 60 cm (excluding knitted or crocheted) '6214 Shawls, scarves, mufflers, mantillas, veils and similar articles (excluding knitted or crocheted) '6215 Ties, bow ties and cravats of textile materials (excluding knitted or crocheted) '6216 Gloves, mittens and mitts, of all types of textile materials (excluding knitted or crocheted '6217 Made-up clothing accessories and parts of garments or clothing accessories, of all types of '6301 Blankets and travelling rugs of all types of textile materials (excluding table covers, bedspreads '6302 Bedlinen, table linen, toilet linen and kitchen linen of all types of textile materials (excluding '6303 Curtains, incl. drapes, and interior blinds; curtain or bed valances of all types of textile '6304 Articles for interior furnishing, of all types of textile materials (excluding blankets and '6305 Sacks and bags, of a kind used for the packing of goods, of all types of textile materials World

20 Textile Imports of Baltic States from Pakistan ($ Mn) Prod uct Code Product Label LATVIA LITHUANIA ESTONIA Pakistan World Pakistan World Pakistan '6306 Tarpaulins, awnings and sunblinds; tents; sails for boats, sailboards or landcraft; camping '6307 Made-up articles of textile materials, incl. dress patterns, n.e.s '6308 Sets consisting of woven fabric and yarn, whether or not with accessories, for making up into '6309 Worn clothing and clothing accessories, blankets and travelling rugs, household linen and articles '6310 Used or new rags, scrap twine, cordage, rope and cables and wornout articles thereof, of textile *Trade Values have been given for the year 2016 Source: KCCI Research, Trademap World

21 Disclaimer This report produced by KCCI Research & Development Department (KCCI Research) contains information from sources believed to be trustworthy; it is not guaranteed that the matter is accurate or complete. This report may not be reproduced, distributed or published by any person for any purpose whatsoever, without the prior written permission/approval of KCCI and/or KCCI Research. It is not intended as professional and/or financial advice nor does any information contained herein constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. The information in this report is not intended as an offer or recommendation to buy, sell or call on any commodity, security, currency, product, service or investment. Analyst Certification The views expressed in this report accurately reflect the personal views of the Analyst(s)*. The Analyst(s) involved in the preparation of this report certify that (1) the views expressed in this report accurately reflect his/her/their personal views about all of the subject sectors and topics and (2) no part of their compensations were, are or will be directly or indirectly related to the specific recommendations or views expressed in this report. The Analyst(s) compile this document based on opinions and judgments, which may vary and be revised at any time without notice. KCCI Research makes no exemplification as to its exactitude or completeness and it should not be relied upon as such. This report is provided only for the information of members of KCCI and business community representatives who are expected to make their own corporate decisions and investment without undue reliance on this report and KCCI Research accepts no responsibility whatsoever for any direct or indirect consequential loss arising from any use of this report or its contents. The views expressed in this document are those of KCCI Research and do not necessarily reflect those of KCCI or its management. The information contained in any research report does not constitute an offer to sell commodities / securities / currencies or the solicitation of an offer to buy, or recommendation for investment within any jurisdiction. Moreover, none of the research reports is intended as a prospectus within the meaning of the applicable laws of any jurisdiction and none of the research reports is directed to any person in any country in which the distribution of such research report is unlawful. The information and opinions in each research report constitute a judgment as at the date indicated and are subject to change without notice. The information may therefore not be accurate or current. The information and opinions contained in research reports have been compiled or arrived at from sources believed to be reliable in good faith, but no representation or warranty, express or implied, is made by KCCI as to their accuracy, completeness or correctness and KCCI also does not warrant that the information is up to date. Moreover, the reader should be aware of the fact that investments in commodities, currencies, undertakings, securities or other financial instruments involve risks. Past results do not guarantee future performance. * Analysts: Uzma Taslim - Director, Shehzad Mubashsher Deputy Director, Sidra Arshad Research Analyst, and Iffraah Rehman Research Database Officer. ]