Armenian IT sector's turnover in 2022 grew by 65% to AMD 570 bln

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18.04.2023, 14:21

In 2022, Armenian IT sector's turnover grew to 570 billion drams, increasing by 65% compared to 2021 and by 105% compared to 2018, according to the Armenian government's report on the progress and results of the implementation of its plan of actions in 2022

Armenian IT sector's turnover in 2022 grew by 65% to AMD 570 bln

YEREVAN, April 18. /ARKA/. In 2022, Armenian IT sector's turnover grew to 570 billion drams, increasing by 65% compared to 2021 and by 105% compared to 2018, according to the Armenian government's report on the progress and results of the implementation of its plan of actions in 2022

"Between 2018 and 2022, IT services increased from 87 billion drams to about 295 billion drams. The growth was actually 239%," the report notes.

In late 2022, there were 3,385 ICT companies in Armenia with 20,617 employees. In comparison, in 2018 there were only 828 such companies with 9,978 employees.

Thus, from 2018 to 2022, the number of companies operating in the IT sphere increased by more than 308% and the number of employees by 106% ($1 - 387.94 AMD). -0-

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