The latest financial disclosures from the State Bank of Pakistan reveal a nuanced shift in the bilateral trade relationship between Islamabad and Washington. During the initial eight months of the current fiscal year, Pakistan managed to scale its export volume to the United States by 3.62 percent. This growth pushed the total value of goods and services sent to the American market to 4.156 billion dollars, a steady climb from the 4.011 billion dollars recorded during the corresponding timeframe of the previous year. This upward movement highlights the United States’ enduring position as a primary destination for Pakistani products, even as broader global trade dynamics remain fluid.
Looking specifically at the performance in February 2026, the year-on-year data suggests a strengthening grip on the American market. Exports for the month reached 466.763 million dollars, marking a 4.88 percent improvement over the 445.007 million dollars generated in February 2025. However, the short-term monthly momentum faced a cooling period. When compared to the 512.599 million dollars achieved in January 2026, the February figures reflect a month-on-month decline of 8.94 percent. This dip indicates seasonal volatility or potential logistical shifts that often impact high-volume trade corridors at the start of the calendar year.
The significance of the growth in the US corridor becomes even more apparent when contrasted with Pakistan’s wider international trade performance. While the American route saw expansion, the nation’s overall exports to the rest of the world experienced a contraction. Total global exports for the July to February period dropped by 5.44 percent, sliding from 21.935 billion dollars in the previous year to 20.741 billion dollars in the current cycle. This disparity suggests that while demand in other regions might be faltering, the appetite for Pakistani goods in the United States remains a vital anchor for the country’s foreign exchange earnings.
On the other side of the ledger, the inflow of goods from the United States to Pakistan has seen an even more dramatic acceleration. Imports from the US witnessed a substantial surge of 27.78 percent during the eight-month window, totaling 1.918 billion dollars compared to the 1.501 billion dollars noted last year. This appetite for American commodities and technology appears to be intensifying. In February 2026 alone, imports jumped by 30.58 percent on a year-on-year basis to reach 303.960 million dollars. This trend was further mirrored in the monthly comparison, with February imports rising 19.20 percent above the 254.988 million dollars recorded in January.
These bilateral shifts are occurring within a broader context of rising national expenditure on foreign goods. Total imports into Pakistan during the period under review climbed by 8.82 percent, moving from 38.823 billion dollars to 41.823 billion dollars. The sharp rise in American imports contributes significantly to this total, suggesting a strategic reliance on US-based supply chains. As the State Bank continues to monitor these figures, the focus remains on balancing this increased import spending with the incremental gains seen in the export sector to maintain a sustainable economic trajectory through the remainder of the fiscal year.
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