Forecasts for the Russian IT market in 2009

In 2008 the Russian IT market showed a relatively modest growth of 9.3%. The economic crisis in Russia, followed by sharp fall in capex in the second half of last year put a halt to quickly expanding IT sales. In 2009, the market could decline by approximately 14%. Recovery of IT demand will depend on the improvement of the overall economic climate, which for Russia has been forecast for 2010. But even in spite of the crisis, the Russian IT market remains the biggest in the region of Central and Eastern Europe.
The Russian IT market appears to be closely linked to the “oil factor”. A drop in oil prices at the end of 2008 generated negative expectations in the economy. Business stopped or postponed some investments, including expenditure on IT systems. The Russian IT sector, which had mainly served demand for new IT infrastructure, lost its key development driver.

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