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bne Tech
April 19, 2019 www.intellinews.com I Page 24
Central and Eastern European countries' high-tech exports boom
Vladimir Kozlov in Moscow
Central and Eastern European (CEE) countries high-tech exports are booming, according to a study recently conducted by RS Components, based on an analysis of 10 years of high-tech export data from The World Bank.
"The global technology boom has created an extremely lucrative and competitive industry with countries around the world desperately trying to take the lead — a key indicator of tech investments is high technology exports," reads the study.
"High-tech exports are products that require significant resources and research in order to develop and produce, including the aerospace, computer, pharmaceutical, scientific instruments and electrical machinery industries, just to name a few," the study continues.
Many CEE countries have seen double-digit tech export growth over the last decade
Meanwhile, when it comes to individual countries' performance in high-tech exports, those from the CEE region have made a noticeable progress over the last 10 years.
Overall, most countries in the CEE region showed at least 5% growth in high-tech exports over the period in question, while for many, it amounted to double digits, and the top 20 in terms of growth pace features exclusively countries from the region.
Albania made the most impressive progress as its value of high-tech exports more than doubled from just under $4mn in 2006 to over $8mn in 2016. Albania was followed by Azerbaijan, which achieved a 41.1% growth, Montenegro (31.9%), Armenia (21.5%) and Romania (19.7%).
Read the full story here Russian data regulations fuelling the rapid
growth of Russian cloud services
Vladimir Kozlov in Moscow
The clouds over Russia’s burgeoning e-commerce business are swelling, but that is a good thing as the cloud services business expanding on the back of new regulations that are feeding an already fast growing business.
Russia's market of cloud services has been boost- ed by a recent requirement that Russian citizens'
personal data should be stored within the country as part of the Kremlin’s ongoing drive to sanction- proof the Russian economy.
Although Russia's total share of the global cloud storage market is still under 1%, the sector is un- dergoing a boom as foreign companies hire local service providers to store Russians' data, a recent