Pakistan has maintained a positive trade balance with the United States, with exports valued at $4.4 billion and imports at $1.9 billion during the first three quarters of the 2024-25 fiscal year, resulting in a trade surplus of $2.5 billion, Finance Minister Senator Muhammad Aurangzeb told the National Assembly.
In a written response to a question in the lower house of the Parliament, the finance minister also shared data for the previous fiscal year 2023-24, where Pakistan’s exports to the US amounted to $5.3 billion, compared to imports of $2.2 billion, yielding a trade surplus of $3.1 billion.
The minister said that the key Pakistani exports to the US include garments, medical instruments, and PET-bottle grade materials, while major imports comprise cotton, iron and steel scrap, computers, petroleum products, soybeans, and almonds.
Aurangzeb highlighted the challenges posed by the 29% reciprocal tariffs imposed by the US on Pakistani imports, which have been suspended temporarily for 90 days. Although exporters have expressed concerns over the tariffs, some have noted that the higher tariffs on other competing countries might present an opportunity to increase Pakistan’s exports to the US.
In response to the issue, the prime minister has formed a Steering Committee and a working group to assess the situation and formulate policy responses.
The Ministry of Commerce is collaborating with various ministries, departments, exporters, and stakeholders to develop a strategy for engaging with US authorities on this matter.
