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LCCI Internationalization Priorities 2016
-Trade with the USA-
Mārcis Dzelme
Foreign Affairs Division
March 9, 2016, Riga
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CONTENT:
• Global Market Overview
• Institutional Support
– In the Global Market
– In the USA
• Trade with the USA
– Import, Export, Trade Balance
– TOP States
• Conclusions & Actions
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Global Market Overview
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Source: Data from LCCI members data base
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Source: Data from LCCI members’ data base
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Institutional Support
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Institutional Support - Global
MFA, 44 Diplomatic and Consular Missions
178 Consulates
MFA, 39 Diplomatic and Consular Missions
176 Consulates
MFA, 41 Diplomatic and Consular Missions
157 Consulates
LIDA26 Employees in 20
Countries
9 Public Representatives
Enterprise Estonia21 Employee In 13
Countries
Enterprise Lithuania7 Representative Offices
AbroadME, Commercial Attachés11 Commercial Attachés
covering 17 countries
Source: Public Information on the sites of MFAs, BS institutions etc.
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LCCI Representatives Globally
73 Representatives in 51 Country
Source: Data from LCCI members’ data base
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Institutional Support in the USA
General Consulate:
NONE
15 Consulates covering 17 states
General Consulate:
New York, NY
16 Consulatesin 12 states
General Consulates:
Chicago, IL Los Angeles, CANew York, NY
23 Consulate in 21 state
LIDA:
NONE
Enterprise Estonia :
Silicon Valley, CA
Enterprise Lithuania:
Chicago, ILSan Francisco, CA
Source: Public Information on the sites of MFAs, BS institutions etc.
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Institutional Support in the USA
LV 1 / EST 3 / LT 6
Source: Public Information on the sites of MFAs, BS institutions
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Honorary Consuls
LV 15 / EST 16 / LT 23
Source: Public Information on the sites of MFAs, BS institutions
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Trade with the USA
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Trade with the USA
Is Latvia’s weak performance today a potential
for faster growth tomorrow?
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Trade with the USA
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Eurostat vs. The Census Bureau
The special trade system: outgoing goodsfrom customs warehouses are not recorded asexports in goods statistics unless theysubsequently go into free circulationEUROSTAT EUR 119 M.
The general trade system: includes all goodsentering or leaving the country
CENSUS USD 274, 5 M. / EUR 251,8 M.
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Trade with the USASource: The Census Bureau, 2015
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Source: The Census Bureau
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Estonia’s TopProduct to Texas
Product USD, M. % of Total
Electric Apparatus For Line Telephony:- Mach For Recp/convr/ trans/regn of voice
image/data- Base Stations- Pts Of Phone Sets- App For The Trans/recep of Voice
images/Data
211 88
Source: The Census Bureau
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Source: The Census Bureau
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Lithuania’s TopProducts to Puerto Rico
Product USD, M. % of Total
Lt Oils, Preps Gt=70% Petroleum/Bitum NT Biodiesel
567 94
Petrol Oil BitumMinerals (nt Crud) Etc Nt Biodiesel
34 5,7
Source: The Census Bureau
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Source: The Census Bureau
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Latvia’s top Export Products by State
Top 10 States Top Product USD, M. % of Total
Maryland Vodka 37,5 91
New York Vodka 18 56
Florida Vodka 14,9 50
California Vodka 11 37
New Jersey Vodka 9,5 41
Texas Vodka 3,6 23
Pennsylvania Bookbinding Machinery 8,7 59
Illinois Vodka 3,2 25
Georgia Glass Fibers And Articles 7,3 58
Massachusetts Vodka 8,7 81
All States Combined Vodka 136 45
Source: The Census Bureau
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Source: CSP, 2015
TOP 10 Latvian Exporters to the USACALJAN RITE-HITE LATVIA, LTD LSEZ
CERAM OPTEC, LTD
'ISP OPTICS LATVIA' LTD
LATVIJAS BALZAMS JSC
MIKROTĪKLS, LTD
NEXIS FIBERS, LTD
PINDSTRUP LATVIA, LTD
PLOCKMATIC INTERNATION AKTIEBOLAGET
SAF TEHNIKA, JSC
VALMIERAS STIKLA ŠĶIEDRA, JSC
Total number of Latvian companies exporting to the USA: 370
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Conclusions
• No effective institutional support available forthe Latvian companies, except our embassy
• Latvia has the lowest trade volumes in thewhole EU 28, except Malta and Cyprus
• Potential for Latvian businesses and trade togrow:– Uncertainty in other global markets
– Increasing competitiveness of Latvian companies
– Familiar culture
– TTIP
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Trade Mission to the USA
To register: http://ej.uz/TM_uz_ASV_2016
Gateway to the USA
launched to run a vibrant network of business representatives in the USA