1.5 ICT SECTOR A key distinguishing feature of the ICT industry, apart from the fact that it has been the fastest-growing sector in the past 10 years, is its applicability across all other sectors. The main characteristics of this sector are described in the “E-Bulletin” of the Electronic Communications and Information Society Association of the Chamber of Commerce and Industry of Serbia4, which covers employment, salaries, foreign trade and foreign direct investment. Trends concerning the number of IT companies, the capital of the Serbian IT industry, exports of computer services and the state of play and outlook for start-ups in this field have been adapted from the survey Development of the Information Technology Industry.5 Employment – The total number of employees in electronic communication and information society industries in Q3 2020 according to SORS figures was 94,105, which was a 9.5% increase relative to the same quarter of 2019. Employees in the electronic communication and information society account for 4.4% of total employment. In terms of industrial activities, the highest share of employment was reported in computer programming, consulting and related activities (36,430), with a 13.7% increase. High numbers of employed persons were also reported in postal activities (18,239) and telecommunications (16,017). The lowest number of employees was reported in information services (4,470), where year-on-year employment growth was 20.3%. (source: e-Bulletin of the Chamber of Commerce and Industry of Serbia). Salaries – Between January and October 2020, the highest average monthly salary was reported in computer programming, consultancy and related activities – RSD 212,093 (158.5% above the national average) and in the field of telecommunications – RSD 126,226 (53.8% above the national average). The lowest average monthly salary was reported in gambling and bookmaking – RSD 63,703, which was 22.4% below the national average; this activity also had the lowest year-on-year salary growth at 3.1%, with a 1.5% salary increase in real terms during the same period (source: e-Bulletin of the Chamber of Commerce and Industry of Serbia). Foreign trade – According to the NBS figures, income generated from exports of computer, information and postal services in 2020 reached approx. EUR 1.5 billion (identical to the figure for the same period of 2019), of which 91.4% was generated from exports of computer services (approx. EUR 1.3 billion), while 6.7% was generated from exports of telecommunications services (EUR 96.7 million). Imports were also comprised mainly of computer services (75.7%, or EUR 409.0 million), with the total value of imports of telecommunications, computer, information nand postal services reaching EUR 540.6 million in the same period. A surplus of EUR 909.4 million was reported (up 14.2% from 2019). According to the SORS figures, exports of computers, communication equipment and software in 2020 reached EUR 108.9 million, while imports stood at EUR 648.4 million, with an export-to-import ratio of 16.8%. Foreign direct investment – According to the preliminary NBS figures, total net FDI inflow into Serbia from investment by non-residents in 2020 reached EUR 3,014.2 million. In 2020, the Information and Communications Sector generated net FDI inflow from investment by 4 5 E-bilten IV kvartal 2020, Privredna komora Srbije, Udruženje za elektronske komunikacije i informaciono društvo; Razvoj industrije informacionih tehnologija, avgust 2019; Milovan Matijević, Mineco Computers 35