Pandemic takes its toll: Export of IT services grows by only 4.4%

The export of IT services from Serbia in 2020 amounted to 1.37 billion euros, which is 4.4 percent more than in 2019, said Vojvodina ICT cluster, citing data from the National Bank of Serbia

The export of IT services in December 2020 was a third higher than a year earlier, they say.

„This is not the result we have become accustomed to in recent years, when the export of IT services grew at an average rate above 25 percent, but the pandemic has taken its toll. January and February last year showed the continuation of a long-term trend, but with the outbreak of the pandemic there was a significant decline,“ says the press release of the cluster, which brings together the best domestic companies in the information technology sector, which employs more than 3,500 experts.

It was pointed out that IT companies in Serbia have managed to preserve liquidity and human resources since March 2020, when the decline in revenues and the number of projects was registered, and that this is a „fantastic feat“ under the current circumstances.

In the last quarter, there was another rise, thus the end of 2020 brought growth of over 30 percent compared to December of the previous year, according to the statement, which adds that about 20,000 IT experts are behind this success.

Izvor: Beta

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