LCCI Internationalization Priorities 2016

-Trade with the USA-

Mārcis Dzelme

Foreign Affairs Division

March 9, 2016, Riga

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

Global Market Overview

Source: Data from LCCI members data base

Source: Data from LCCI members’ data base

Institutional Support

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.

LCCI Representatives Globally

73 Representatives in 51 Country

Source: Data from LCCI members’ data base

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.

Institutional Support in the USA

LV 1 / EST 3 / LT 6

Source: Public Information on the sites of MFAs, BS institutions

Honorary Consuls

LV 15 / EST 16 / LT 23

Source: Public Information on the sites of MFAs, BS institutions

Trade with the USA

Trade with the USA

Is Latvia’s weak performance today a potential

for faster growth tomorrow?

Trade with the USA

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.

Trade with the USASource: The Census Bureau, 2015

Source: The Census Bureau

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

Source: The Census Bureau

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

Source: The Census Bureau

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

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

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

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