Pakistan's trade surplus with the United States is narrowing. According to the State Bank of Pakistan (SBP), imports from America rose by 55.33% to $486.75m in July-August 2026-27, up from $313.363m a year earlier. Exports of goods and services to the US, Pakistan's largest single export market, grew by only 0.61% over the same period, to $1.118bn from $1.112bn.

As a result, Pakistan's surplus with America fell from about $799m to roughly $631m, a reduction of nearly $170m in two months.

The monthly figures were uneven. Exports to the US in August were $523.676m, 5.42% more than the $496.747m recorded in August 2025. However, they were 12.01% lower than July's $595.22m.

Imports also fluctuated sharply. Purchases from America in August totalled $160.298m, 9.34% more than the $146.594m imported a year earlier. Compared with July's $326.452m, however, they fell by 50.89%. Most of the two-month increase in US imports therefore came in July.

Pakistan's overall exports performed better than its exports to America. They rose by 3.97% in the first two months, from $5.237bn to $5.445bn, meaning that sales to other markets grew faster than sales to the US.

Total imports grew even faster than exports, rising by 11.34% from $10.449bn to $11.634bn. Imports from America grew much more rapidly than both totals.

The figures show that the US remains a major market for Pakistani goods. However, almost flat exports and a sharp increase in imports are reducing Pakistan's trade surplus with America. Whether that trend continues will depend on whether July's jump in imports was a temporary spike.