Russian Software Export Market Growth Hit the New Record

The software exports from Russia grew by almost 54% in 2006 and reached $1,5 billion in volume in 2006. This figure was reported by Russoft, Russian IT Services association at the annual Russoft general membership meeting. Russian offshore ITO services market has been growing rapidly by 30-40% for the last five years. Today by market volume Russia is third among offshoring locations, next to India and China.

More than a half of market volume generated by Moscow and St. Petersburg companies. Approximately 30% of providers are headquartered in Moscow, and 25% - in St. Petersburg. The remaining pack is based in other Russian regions, where Novosibirsk, Nizhniy Novgorod and Yekaterinburg are other important centers of software development.