In November 2022, the export revenue of IT services increased by 8.4% and brought in $45 million more compared to October. However, compared to 2021, the export volumes in November were still 14% lower than in the same month in 2021.
According to the National Bank of Ukraine, in November, the export of computer services still made up almost half of the structure of total service exports – 44.3%. This is 5.4% more than the previous month. Overall, for the 11 months of 2022, the share of IT exports is 45.3%, which is 7.9% more than for the same period in 2021.
In addition, from January to November 2022, IT services exports increased by 7.3% and brought in over $6.5 billion, exceeding the 2021 figure by $447 million. At the same time, total service export revenue for this period decreased by 11.5% compared to 2021.
“For the first time in two months, the volume of IT exports has increased. However, this is more of an exception than a rule. Compared with last year, the monthly numbers are not encouraging. At the same time, IT is the only sector that had positive dynamics in 2022. The industry was able to withstand thanks to a high level of adaptability. However, it requires government support. The Lviv and Kharkiv IT clusters, in coordination with other industry clusters and associations, have prepared proposals for the Cabinet of Ministers’ resolution that will allow key specialists of small and medium-sized companies, which make up 75% of Ukraine’s IT business, to be reserved. We hope that this issue will be resolved in the first quarter of 2023. There is a great risk that this year we will have the first drop in IT service exports compared to last year in the past twenty years,” notes Stepan Veselovskyi, CEO of the Lviv IT Cluster.