Croatia: 2020 was a record year for the IT industry
According to the analysis of the results that CISEx (Croatian Independent Software Exporters) conducts annually for its 267 member companies, last year was a record year in terms of absolute values of revenue, exports, number of employees, and other business indicators.
The total revenues of their members, excluding affiliates, exceeded HRK 5.6 billion (approximately € 750,000), while revenues from abroad amounted to HRK 2.8 billion (approximately € 373,000).
“The growth of revenues from abroad is 30% compared to 2019. The share of exports in sales revenue is for the first time higher than revenue in the domestic market and amounts to 53%. The average share of exports in the revenue of the IT industry in Croatia is 38%. If we look at the indicators of all approximately 140,000 companies in Croatia for which annual reports are available, the average share of exports in the operating income of our economy is, unfortunately, a modest 21%. CISEx members created 920 new jobs last year and ended the year with an average of 8,196 employees, an annual growth of 13%,” states the analysis processed by Tajana Barančić from Astra Business Engineering.
In addition, CISEx also published a list of 30 member companies that lead in terms of revenue and exports, which includes, among others:
- Rimac Automobili
The results were also commented on by Alan Sumina, co-founder and CEO of Nanobit, who, even ahead of Infobip, took first place among the “excellents”, which was taken over by Stillfront Group last year:
“Last year was challenging for many, but very good for the IT sector in general. In particular, Nanobit alone accounts for more than 14% of total CISEx exports. Honestly, I was even surprised by this information. Perhaps this speaks volumes about the potential of the IT sector because just six years ago our revenue was 1/10 of last year’s revenue. Rarely can any industry achieve such organic growth rates. I think it is clear to everyone that, in addition to tourism, IT is very important for the future of Croatia and that it is wrong to look at its currently relatively small share in total GDP, but the potential it can have in five years.”