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Tuesday 25.09.2018 | Name days: Rauls, Rodrigo
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Export of Latvian IT-services to international market grows

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Signe Balina

Latvian information and communication industry companies have proven themselves to be strong players that successfully compete not only on the European, but also on the international market. According to the statistical data from the Latvian Bank and the Central Statistical Bureau, Latvia’s information and communication export grew by 16% last year, compared to 2010, while the increase of IT export was even more rapid and now reaches 28%.

Information and communication technology makes up 6% from all Latvia’s exported services, the total value of which was 2.246 million LVL. Revenue of this industry to SRS administered budget income, in other words taxes, grew as well. Compared to 2011, revenue increased by 13.1%, forming a total of 6% from the country’s collected tax income.

«It is good that the IT industry once again brings a significant increase to the total volume of export. After analyzing the data for previous years, we can conclude that the export of this industry kept growing even during the crisis. There is also an increase of information and communication product export – 19%. This data is evidence to this industry’s competitiveness and export potential on a global scale,»- says governor of Latvian Information and Communications Technology Association (LICTA) Signe Balina.

IT services are the main export product of this industry; its income reached 82 million LVL in 2011. The second most popular exported services of Latvian companies are telecommunication services with a total income of 42.3 million LVL.

According to experts, the strong side of Latvia’s information and communication industry on the international market is the fact that these companies are able to guarantee solutions of the highest quality and specialist. The data from the Latvian Investment and Development Agency states that Latvia has the most competitive workforce in Europe in the field of information and communication services. More than 1 000 IT specialists receive higher education in Latvia every year. Nonetheless, projections show that Europe’s deficit of IT specialists will reach 700 000 specialists in 2015. Therefore, it is vital to guarantee vacant study places for IT professions and enhance the learning of IT sciences at school, motivating young people to choose this profession.

The Baltics, the EU and CIS countries have the largest information and communication service markets, but Latvian companies offer IT solutions in different countries of the world: for example, in USA, Australia and even South Africa. Latvian companies offer high quality IT services in such industries as IT consultancies and architecture, network and data transfer, finance and business management solutions for companies and organizations, business analysis, Enterprise Resource Planning Solutions, language technologies, e-management and e-education solutions and others, LICTA reports.

Ref: 102.109.109.4022


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