Pakistan reports that freelancers generated a record $557 million in the first half of FY26.

Pakistani freelancers generated a historic $557 million in the first half of the current fiscal year, according to official media on Sunday, indicating the nation’s rise as a global center for software development and e-commerce.

The IT and IT-enabled services sector in Pakistan has become one of the nation’s rapidly expanding sources of foreign exchange, earning over $3 billion annually and employing around one million freelancers alongside established software companies.

“According to state broadcaster Radio Pakistan, Pakistani freelancers generated an impressive 557 million dollars in foreign exchange in the first half of the current fiscal year, establishing a historic record.”

The accomplishment was characterized as a “significant milestone,” highlighting a 58 percent rise in foreign exchange earnings relative to the corresponding period previous year.

The official media reported that the swift increase in freelancers’ incomes underscored Pakistan’s capabilities as a center for software development, digital marketing, graphic design, and e-commerce.

Radio Pakistan stated that enhanced facilitation, specialized training programs, and a nurturing atmosphere have fostered the swift expansion of the freelance economy in the country.

According to official media, Pakistan is home to more than 170 venture capital-backed firms with a total enterprise value above $4 billion.

The growth rate of Pakistan’s venture capital and startup ecosystem has surpassed that of other international countries, including India, Dubai, and New York.

Pakistan has progressively depended on technology exports, such as software development, outsourcing, and freelance services, to generate foreign revenue.

The development occurs as Islamabad aims for sustainable economic growth propelled by exports, while Pakistan’s economy adapts to structural reforms and stringent import regulations following a balance-of-payments crisis.