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IT exports exceed domestic sales revenue

IT exports exceed domestic sales revenue
IT exports exceed domestic sales revenue

In 2022, they reported a turnover of more than US$1.8 billion and 87% of it was destined for the United States.

Photo: Freepik

The exports of the sector of Information Technology (IT) They exceed the national sales of the national companies themselves in revenue and in 2022 alone they reported a turnover of more than 1.8 billion dollars, including the sales of foreign subsidiaries of Uruguayan companies.

According to data from the Uruguayan Chamber of Information Technologies (CUTI), USA was the destination of 87% of the technological exports in 2022, when its share of total sales was 64% in 2018.

When sales from foreign subsidiaries of Uruguayan companies are included, sales abroad reached 1,816 million dollars, while sales in Uruguay about 1,023 million dollars.

Until 2019, national sales exceeded those exports, since they were 981 million dollars compared to 932 million dollars. Likewise, it is highlighted that between 2017 and 2022 the IT exports They almost tripled, going from 684 million dollars to 1,816 million dollars.

The IT sector continues to grow in Uruguay

According to CUTI, during the first half of 2023, 41% of national IT companies indicated that they experienced an increase in sales between January and June, with 32% of them reporting slight increases and 9% significant increases.

In Uruguay There is an unmet demand for work in this sector, which has recently turned to hiring workers from other countries, mainly from Argentina and Colombia. In the middle of last year, the number of IT companies hiring professionals abroad to work remotely increased by 96%.

Nearsure, a Uruguayan IT company, is studying an increase by 50% to reach 850 people during the current year, with the aim of satisfying US demand. This would allow the company to go from around $37.5 million invoiced per year to $55 million.

Source: Ambito

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