In the first half of 2023, the export of IT services from Ukraine decreased by 9.3% compared to the same period last year and amounted to $3.38 billion. At the same time, according to the National Bank of Ukraine, the figure for June this year is $573 million.
In the current situation, it would be a miracle for the IT industry to grow in the first six months of the year. At the same time, the positive scenario of maintaining export volumes and stopping the decline in exports of IT services, unfortunately, did not materialize either. This is the opinion of IT Ukraine Association Executive Director Kostiantyn Vasyuk:
“So, according to the results of six months, we record a downward trend in Ukrainian IT exports.”
As reported by the IT Ukraine Association with reference to the NBU, in the first quarter of 2023, exports of IT services from Ukraine decreased by 16% compared to the same period in 2022 and amounted to $1.68 billion. According to the results of 2022, the IT industry provided foreign exchange earnings to the Ukrainian economy in the amount of $7.35 billion. Taxes for 2022 amounted to UAH 32.2 billion.
According to the head of the association, the IT industry has retained expertise and personnel in Ukraine, but this is not enough to maintain competitive advantages in the global market, so companies are forced to develop foreign offices to retain existing customers and attract new ones. At the same time, IT companies in Ukraine are actively investing in new developments in defense-tech and cybersecurity.
“Although such projects do not increase the budget’s export performance, they do much more – they create new unique products for the future and help defend our country today,” Vasyuk says.
IT Ukraine Association is the largest national independent specialized association of IT companies, representing the interests of more than 135 service and product IT businesses and more than 85 thousand specialists in Ukraine.
