Expert: Faster digitalization rates can bring Russia 5–7 tln rbl/yr

MOSCOW, Jun 10 (PRIME) -- Higher digitalization of the economy will enable Russia to maintain its competitiveness on world markets and create real added value in industries for up to 5–7 trillion rubles per year, international consulting company The Boston Consulting Group (BCG) said in a research seen by PRIME on Friday.

The share of digital economy in the country’s gross domestic product (GDP) rose to 2.1% in 2015 from about 1.6% in 2011. This compares to 8.6% in the U.K. in 2015 and 5.6% in China.

Bart Banke, head of research and partner at BCG, said that Russia held 39th position in 2015. Russia occupies a good position among the BRIC – standing for Brazil, Russia, India and China – but China, which was on the 35th position, is an absolute leader by growth.

The current average annual growth of digitalization in Russia of 24% is insufficient and should be accelerated. Otherwise, a 5-8 year lag behind the leaders will grow and could reach 15–20 years in a five-year time, which will be very difficult to overcome.

The use of digital technologies in all industries is a mandatory prerequisite of maintaining competitiveness on world markets. The transformation will raise the share of digital economy in the country’s GDP to 5.6% by 2021 and create large-scale inter-industrial impacts, the research read.

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