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Romanian IT&C, electrical and home appliances market in one of highest paces of growth in the region

Marţi, 21 august 2007, 0:00

The IT&C, home and electrical appliances market in Romania will report an accelerated pace of growth of about 10-15% yearly in the coming period and is expected to reach the level of the other markets in Central and Eastern Europe such as the Czech Republic or Hungary within 3-5 years, according to representatives of Romanian group Flamingo International.

The current value of this market in Romania is little under 1 billion euro, while the markets in Central and Eastern Europe, especially in Hungary and the Czech Republic, have an advance of 40-50% with a value set at around 1.4 billion euro.

According to Flamingo International estimates, the IT&C sector contributes 25% to the market, electronics - 35%, while home appliances - 40%.

Jiri Rizek, executive manager at Flamingo International, says that due to the bigger population in Romania the volume of sales on the IT&C segment is higher than that in Hungary or the Czech Republic.

But he says there are significant differences when it comes to the value of sales as Romanians are more sensitive towards prices than consumers in CEE markets, meaning higher sales on the low-price segment.

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