Argentine software and IT services sector forecast to bill US$4.7bn next year

Tuesday, February 4, 2014

Argentina's software and IT services sector may generate revenues of US$4.7bn in 2015, according to the country's sector chamber Cessi.

This figure represents an increase of approximately US$1bn from last year's revenues.

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Meanwhile, industry minister Debora Giorgi highlighted that the sector's revenues have been growing significantly since 2003, with annual growth rates of nearly 16%.

Argentine software and IT service exports are expected to expand by 16% in 2014 compared to 2013, Cessi's VP Diego Berardo previously told BNamericas. For 2013, the sector's exports reached nearly US$875mn, an increase of 17% from 2012.

Companies which export software and IT services will certainly benefit from the recent devaluation of the local currency as exports will be more competitive in this new scenario. The local currency has suffered a devaluation of over 18% since the beginning of this year.

Argentina's main export markets are the US, Brazil and other Latin American markets such as Mexico and Chile.