The ICT services sector shows significant variation among European countries in its GDP contribution. In 2023, Cyprus led with a 9.41% share, followed closely by Bulgaria at 9.36%. Notably high growth rates were observed in Serbia (12.67%) and Portugal (12.9%). In contrast, Luxembourg and Denmark saw minimal shrinkage. The United Kingdom and Germany exhibited marginal growth around 0.5% to 0.8%, reflecting slower advancement. The five-year CAGR indicates sustained growth across most countries, reinforcing ICT's role in European economies.
Future trends to watch include:
- The potential surge in ICT contributions from emerging markets such as Serbia and Portugal.
- The impact of digital transformation policies across Europe.
- Innovations in AI and cloud computing driving market expansion.
- Potential regulatory changes impacting ICT investment and expansion.
Top countries in ICT Services Share in GDP by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Cyprus | 9.41 | 2023 | +4.21% | +8.7% | View data |
| 2 | 2 Bulgaria | 9.36 | 2023 | +8.46% | +10.2% | View data |
| 3 | 3 Serbia | 7.81 | 2023 | +11.1% | +12.67% | View data |
| 4 | 4 Sweden | 6.6 | 2023 | +2.01% | +2.69% | View data |
| 5 | 5 Luxembourg | 6.5 | 2023 | +0.15% | -0.66% | View data |
| 6 | 6 Latvia | 6.2 | 2023 | +5.62% | +6.52% | View data |
| 7 | 7 United Kingdom | 6.1 | 2023 | +0.66% | +0.53% | View data |
| 8 | 8 Iceland | 5.9 | 2023 | +7.66% | +8.42% | View data |
| 9 | 9 Portugal | 5.76 | 2023 | +11.2% | +12.9% | View data |
| 10 | 10 Czech Republic | 5.47 | 2023 | +5.19% | +5.53% | View data |
