Generalise gravity model used to evaluate the effect of exchange rate volatility and exchange rate regime on bilateral exports of Pakistan. A bilateral data set of major exports partners the USA, UK, UAE, Hong Kong and Germany for period 1982 to 2015 used in a panel framework. ARCH, GARCH, moving average standard deviation methods used for measuring volatility in bilateral exchange rate. The results found conclude that economics size (GDPJ/GDPPAK) has a significant positive effect. Distance (DIS) and relative prices (RP) are significant negative effects; exchange rate volatility and free-floating exchange rate regime have a significant positive effect on aggregate bilateral exports of major trading partners of Pakistan.