The city of Karachi is well-known to the world as the commercial and financial capital of Pakistan. Karachi generates about 25% of the national GDP. It also has a share of 65% in generating the national revenue that includes federal and provincial taxes, customs and surcharges. In 2007, Karachi was identified as the most business-friendly city in Pakistan by World Bank.
The city has a very large and diverse economy. It is home to some of the largest and most dynamic industrial complexes in the country such as Sindh Industrial & Trading Estate (SITE), Korangi Industrial & Trade Estate, FB Area, North Karachi Industrial & Trade Estate, Dhabeji and Port Qasim etc. SITE Manghopir is the largest industrial park in the country comprising about 4000 factories. The areas like I.I. Chundrigar Road, Sharah-e-Faisal, Clifton and Defense are the main business hub of Karachi.
As the city offers an ideal location for the business, the industries produce a wide variety of goods, from textiles to chemicals, steel and machinery. The versatile industries of the city also produce cement, corn mills, shipbuilding, refined oil, shoes and food. Some major automobile manufacturing companies such as Toyota, Suzuki, Millat Tractors, Adam motors, HinoPak have their manufacturing plants in the city. The city is also home for plenty of cottage industries.
Most of Pakistan's public and private banks, insurance companies have their head offices in Karachi. Many of Pakistan’s independent television and radio channels such as Geo, ARY, Hum and AAJ TV, KTN, Sindh TV are headquartered in Karachi. The city also offers the scope for expansion of tertiary sector and retail trade. The largest stock exchange of Pakistan is situated in Karachi. Jinnah International Airport situated in Karachi is the largest international airport in Pakistan.
Karachi is a major sea transport centre and contains the country’s two major ports namely the port of Karachi and Port Mohammad Bin Qasim. The city is an important hub for fishery business in Pakistan. The major fish harbour in Karachi includes Karachi Fish Harbour and Korangi Fish Harbour. In Karachi, about 300,000 people are connected with the fishery business and some subsidiary industries provide employment to about 400,000 people.
Although IT industries, electronic media and call centers are playing a significant role in the current economy, the huge industrial base of the city provides the maximum strength to the economy of Pakistan.