IT sector, turnover of over 70 billion lei in pandemic, study finds

In 2020, the IT&C sector had a turnover of 70.3 billion lei and was ranked in the Top 5 economic sectors, along with the manufacturing industry, construction, transport and storage, according to according to the KeysFin report.

The net result of non-financial companies in Romania exceeded the threshold of 100 billion lei, reaching 104.5 billion lei in the year of the COVID-19 pandemic, by almost 13% more than in 2019, by 221% more than in 2015 and 584% more than in 2010, the study says.

Also, the turnover of these companies decreased by about 2.7%, to 1.641 billion lei in 2020, but, on the other hand, it was 36% higher than in 2015 and 78% above the level since 2010.

TOP 5 economic sectors    

• Trade – continued to be the largest Romanian economic sector in 2020, with a turnover of 652 billion lei (40% of the total);
• Manufacturing industry, with 393 billion lei (24% of the total);
• Constructions, with 129 billion lei (8% of the total);
• Transport and storage, with 95 billion lei (6% of the total);
• IT&C, with 70.3 billion lei (4% of the total), a sector that replaced, in the Top 5, Energy & Gas.

TOP sectors with the most employees 

Regarding the Top of the sectors with the most employees, in the first place it was maintained:

• Manufacturing industry, where over one million people were employed (26% of the total);
• Trade (the largest economic sector by turnover and number of companies) with 815 thousand employees (20% of the total);
• Constructions with 416 thousand employees.

Overall, there were 4 million employees in Romania in 2020, 4% less than in 2019. In addition, almost 789 thousand non-financial companies reported their results for 2020, 3.3% more than in 2019.

• 704 were large companies, with over 250 employees and a turnover of over 50 million euros
• 8.2 thousand medium-sized companies (between 50 and 250 employees and a turnover between 10 and 50 million euros)
• 47.2 thousand small companies (between 10 and 50 employees and turnover between 2 and 10 million euros)
• 732 thousand micro-enterprises (less than 10 employees and a turnover of less than 2 million euros)

At the same time, the number of micro-enterprises increased by 4% in 2020 compared to 2019, turnover increased by 4% to 243 billion lei, the number of employees increased by 0.7%, and the net result improved by 27% in 2020 compared to the previous year. Moreover, the equity of micro-enterprises increased by 42% compared to 2019, reaching 98 billion lei in 2020, the study shows.