Exports of IT-products form Armenia reach USD72 million in 2009

PanARMENIAN.Net -
Exports of IT-products from Armenia reached USD72 million in 2009, these data are presented in the study "Armenia’s Information Technology: software and services, 2009” of Enterprise Incubator Foundation (Enterprise Incubator Foundation - EIF). 55 per cent of IT companies in Armenia export their products or services in more than 20 countries. 60 per cent of exports go to U.S. and Canada, 24 per cent - to Europe and 22 per cent to Russia and CIS.

Armenian IT companies continue lagging behind the foreign subsidiaries. Nevertheless, experts believe that local companies will be able to catch up and even surpass the foreign companies in productivity. According to the report, over the past decade in the field of IT software and services, Armenia has had a stable 27 per cent annual growth, and in 2009 the share of IT industry in Armenia's GDP reached 1,1 per cent, comparable with rates in India (1.4 per cent) and Germany (1.3 per cent).