IT market in Russia to reach €18bn in 2013

In line with our forecasts presented in mid-2012, last year was the third consecutive period when the IT market in Russia recorded a healthy double-digit growth rate. The market will slow down somewhat in 2013, but it is far from being stagnant.
The sales of IT products and services in Russia increased to RUB 678bn in 2012, which is 13.9% more than in the preceding year. The majority of the leading vendors, distributors and system integrators reported growth in their sales revenues in the country last year. We also need to mention that the devaluation of the Russian rouble towards U.S. dollar is accountable for about half of the market growth. The Russian IT market depends on imported hardware and software, and IT project budgets are often composed to take into account the exchange rate with the U.S. dollar. Interestingly conversely when measured in the euro, the Russian IT market in 2012 almost reached €17bn, which meant a growth of as much as 16.4%.

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