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Serbian IT sector on route to record value of 580 million euros

Serbia’s information technology sector is estimated to reach a record value of 580 million euros while the country’s software exports could total 1.4 billion euros in 2019, the Information Technology Association of Serbia (DIS) has said.

The DIS is urging the Serbian government to double its IT education quotas, which is needed to ensure the growth of export.

“We have an increase in the export of software services, which will reach 1.3 to 1.4 billion euros this year, in order to continue the explosive development and to reach the export of two billion euros – Serbia needs 20,000 more engineers, and we do not have that,” said DIS president Nikola Marković, adding that Serbia made progress regarding the development of the IT climate, however, some regulations still need to be harmonised with EU standards.

Milojan Matijević, an ICT market analyst at Mineco Computers, said that the Serbian IT market had been growing for the third consecutive year at a rate exceeding ten per cent, which gives the country a fair chance to exceed its highest annual value of 550 million euros posted in 2008.

“Compared to 2011, the number of companies went up by 700, the number of employees more than doubled, the operating income has been doubled too, and the industry’s own capital has more than tripled – which are remarkable growth rates,” wrote the Serbian Monitor, quoting the Serbian analyst.

According to him, the Serbian IT industry is ranked ninth in terms of value among the country’s industries, which is a relatively low ranking. “With this strong growth dynamic, we can expect the IT industry to become one of the top five sectors in the Serbian economy in 5 to 6 years,” Mr Matijević noted.