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IT&C: over 6% of GDP, with over 110,000 employees in 2017

By Costin Buradu

IT & C sector activity will reach 6.2% of GDP this year compared to 5.5% of GDP in 2016; information and telecommunications are the most dynamic sector of the economy, shows a studio made by economists from the National Bank of Romania BNR).
The information and telecommunications sector last year contributed 5.5% to GDP formation and participated in economic growth by 0.7 percentage points, the second highest share, after trade (1.9%). But more important is the dynamics - an increase of 13.8% in volume, the largest in the economy. The growth rate is still in place in 2017, so the BNR economists estimate that the sector will reach 6.2% of GDP this year, with a record 5.7% post-crisis economic growth.
According to the BNR study, the share of the gross added value of the IT & C sector in nominal GDP has increased in recent years, supported both by tax benefits (programmers do not pay income tax) and relatively low labor costs compared to other EU.
The number of employees in the IT sector has increased significantly, its dynamics being among the highest in the EU. In addition, there is still a fierce competition for skilled labor. "This evolution, along with the inability of the education system to generate an adequate flow of graduates, has the effect of fueling wage increases," the study quoted. According to National Institute of Statistics data, a net average wage in information and communications was in July of 4,690 lei, double the net average wage in the economy of 2,391 lei.

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