Argentine software exports top US$1bn

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Monday, May 2, 2016

Argentina's software industry exceeded US$1bn in exports for the first time ever in 2015, growing 12.7% from 2014, according to figures released by the country's chamber of software and computer services CESSI.

The US remains the main destination for Argentina's software exports, producing 50.5% of revenues from abroad, followed by Uruguay and Mexico. The activity that generated most revenues was software development, which accounted for 62% of the total.

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Some 30.5% of the exports were of software and IT services, 21% involved financial services and 10.2% wholesale and retail trade.

The report also shows that the software industry employed more than 81,800 staff and achieved total sales of US$3.49bn last year, growth of 5.6% and 29.8%, respectively.

"The creation of these 4,400 new jobs in the software industry is the main indicator of sustained growth in the sector," said Diego Berardo, a member of the chamber's board.

The survey also measured expectations for 2016, revealing that companies forecast employment in the sector to grow 8.9%, which implies the creation of 7,000 new jobs, total sales growth of 36.2% and an 18.9% increase in exports.

Investment in research, development and innovation increased 20% compared to 2014, confirming this type of investment as having the greatest impact for software companies.

"The great digital transformation over these tears, both in the economy and society is maintaining high and sustained world and local demand for software and computer services," said CESSI president, Aníbal Carmona. "We must continue to find solutions to the shortage of talent, which remains one of the greatest challenges to resolve in the industry to sustain growth."