SECTORS OF BULGARIAN ECONOMY
The Bulgarian software business is among the fastest growing sectors in the country
The Bulgarian software business is among the fastest growing sectors in the country with outspoken export potential. This became clear from the latest edition of the barometer for the software industry, prepared by the Bulgarian Association of Software Companies (BASCOM).
According to estimates of the companies in this sector, in 2014 sector revenues increased by 15%, reaching BGN 1.373 billion. In comparison, in 2013 this indicator was at BGN 1.198 billion, marking 11% growth compared to 2012 and 500% compared to 2005.
Over 60% of the revenues of software companies are from exporting high-tech products and services. Traditionally most products are exported to the United States, Canada and Western Europe.
The advantages of Bulgarian software to those from India and China are for example, that Bulgaria's quality products and services are superior to the Chinese and Indian ones. Our specialists are also generally more qualified, says BASCOM.
Jobs in the software industry jumped from 5,000 in 2005 to 17,000 in 2014, i.e. in just 9 years the sector has created 12 000 new jobs.
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