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Bulgaria’s software industry primes for 10% growth in 2010

Monday, Oct 04, 2010

The Bulgarian software sector will expand by 10% in 2010, according to unofficial data received by the members of the Bulgarian Association of Software Companies (BASSCOM).

The announcement was made yesterday by BASSCOM chief Georgi Brashnarov, who presented the third survey Barometer of the Bulgarian IT Industry.

The poll was conducted online among 57 member companies and the Bulgarian Web Association (BWA), which is partner in the project. The survey spanned January-April 2010 and was carried out in cooperation with independent company GOPA Germany.

The combined revenue of the companies polled surged by 27% year-on-year in 2008 and slid by the same pace in 2009. The profit rose 31% in 2008 and fell 46% in 2009.

Foreign markets continue to dominate the business, with more than half of the deals struck outside Bulgaria, the bulk of them in the European Union (EU) followed by North America.

Software products and services make up the biggest chunk of exports. BASSCOM highlighted as a positive trend the increase in the share of software products, which it argued was a sign of improving competitiveness and added value in the sector.

Despite the 2009 downturn, no jobs were lost in the Bulgarian software industry. Companies maintained and even boosted their headcounts last year. Companies with 50-60 people on the payroll have an average of 3-5 vacancies. The industry anticipates its workforce will grow by around 10% in 2010.

Source: investnet.bg