The Sri Lankan IT sector which commands a high value addition compared with many other industries posted a revenue of US $ 250.3 million with an impressive 46% growth rate in 2010 as against the year 2009, according to a survey conducted by the Export Development Board.
“Even though the local industry is still considered to be in its nascent stage, it is happy to note that many high profile investors particularly Infosys-India and other IT related companies have expressed willingness to invest in the IT and Information Technology enabled service industry in Sri Lanka,” Export Development Board Chairman Janaka Ratnayake said.
In 2010, 147 companies contributed the export revenue of the industry while 137 companies contributed to the export revenue in 2007. It is relevant to note that some companies who had contributed to the growth in export revenue in 2007 have not exported services in 2010 while some companies have entered the export industry in 2009 and 2010.
According to the Sri Lankan Information Technology forecast, the addressable domestic IT market is expected to grow from US $ 393 million in 2011 up to over US $ 742 million over the next five year period. The survey has identified 147 ICT companies and 28 Business Process Outsourcing (BPO) companies in Sri Lanka and these two sectors consist of around 16,800 skilled workforce.
The top three markets for the Sri Lankan IT export are Europe (UK and Ireland), USA, South Asia and the major BPO markets are New Zealand, Asia mature markets, Middle East and Canada.
Source:http://www.dailynews.lk/2011/12/30/bus02.asp
