VIDEO: IT Sector Grows by 47.5% Annually
The representative of the working group created in the IT sector, Sevak Hovhannisyan, announced during parliamentary hearings that this sector is the most dynamically growing in Armenia, having recorded significant growth.
According to him, this is attributed to the influx of relocated companies from Russia into Armenia. “In 2022, the turnover of the sector reached 589 billion drams, approximately 1.4 billion dollars,” he stated.
He noted that this sector has grown on average by 47.5% annually from 2018 to 2022, while the GDP growth was only 9% per year. He emphasized that this rapid growth has enhanced the sector’s importance within the economy.
For more details, watch the video.
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