VZGLYAD: Russia increases export of digital technologie

05.02.2021
VZGLYAD: Russia increases export of digital technologie

In 2020, Russia set several financial records. The main one was the increase in the share of non-resource non-energy exports up to 48%. For ten years, Russia has been able to increase it almost three and a half times. According to the Russian Export Center, in 2000, Russia sold non-commodity goods abroad only for $46 billion, and by the end of 2020 for $160 billion. Compared to last year, the volume increased by 3.5%. This breakthrough was made, among other things, thanks to the growth of e-commerce turnover, which was facilitated by the massive transition of consumers online because of the implemented quarantine measures.

“The export of digital technologies from Russia is gradually developing as well. For example, the ITPS Group of Companies, over the course of 15 years, turned from a small local IT service provider to a large international player. The company operates in Uzbekistan, Kazakhstan, Iraq, Africa, and South America. The share of exports in the company's total revenue is more than 60%," mentioned Associate Professor at the Department of Industrial Economics of the Plekhanov University of Economics, Oleg Kalenov, in an article at the Vzglyad business newspaper.   

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