The results derive from CUTI’s Monitor of the Status of the Technology Industry in Uruguay. Optimism remains for the second part of the year.
The Uruguayan Chamber of Information Technologies (CUTI) published the last Status Monitor of the Technology Industry in Uruguay, which recorded that 41% of the companies surveyed in the sector achieved an increase in their sales during the first half of 2023, although mostly slightly. Meanwhile, 30% indicated that sales decreased at some level.
The sector of Information Technology (IT) is one of those that has expanded the most in recent years, and even the government is targeting it with different policies that allow its development to continue at the local level. In this context, the CUTI IT Observatory studies the scenario regularly through surveys of the Chamber’s member companies.
In this sense, 41% of the companies consulted indicated that they had had a increase in sales between January and June 2023: 32% indicated a slight growth, while 9% indicated that this increase was significant. In turn, 29% indicated that sales were sustained in line with expectations, although 25% said they had a slight decrease and 5% experienced a significant drop in sales during the first half.
The projections for the second half of the year showed, meanwhile, the continuity of optimism in the sector. In this way, 56% of the companies consulted estimate that their sales will increase, either slightly (46%) or significantly (10%), while 32% estimate that they will remain at current levels. Only 12% indicated that their sales will decline — and just 2% said they will do so significantly.
Business and export opportunities
The CUTI study also consulted on the business opportunities that were identified during the first half of the year. In that sense, a 88% of the companies identified various opportunities: 24% correspond to opportunities of great relevance, while 64% are opportunities of lesser magnitude. On the other hand, 12% did not detect new commercial opportunities.
It should be noted that, contrary to the optimism maintained regarding sales performance, opinions on the evolution of the economic situation of the country mark a progressive deterioration. Thus, 44% consider that the situation will improve slightly in the near future, and another 44% consider that it will remain unchanged.
The exports, Meanwhile, they are still not an important item, at least among the companies consulted by CUTI. More than half indicate that placements abroad account for less than 20% of their sales, and only 25% indicated a weight of more than 80%.
Companies in the first range of turnover—greater than 5 million dollars—show the greater dependence on exportswith 41% of them seeing exports represent more than 60% of their total income.
Source: Ambito
