According to the statistics on 10 months of 2022, the export of IT services grew by 9.9% compared to last year, and brought in more than $6 billion in revenue, surpassing the 2021 figure by $542 million. The export of IT services remains one of the few areas that continue to thrive despite war.
In 10 months of 2022, the total export of Ukrainian services decreased by 10.8% compared to the corresponding period last year. Negative trends are also observed in the IT sector, with negative indicators prevailing for the second month in a row. According to the NBU, compared to September, the export turnover of IT services decreased by 7.4% in October. This means that the industry received $43 million less ($535 million). At the same time, due to a certain reduction in other export services, IT services still make up a significant part of the export structure — 43.8%. This is 5.7% more than last year.
Compated to last year, in October the turnover was 16% lower than during the same period in 2021.
“When we were working on our IT Research Resilience study, we predicted different scenarios for the export revenue of the IT industry: from an optimistic $8.5 billion to a pessimistic $7.2-7.5 billion. Following the current dynamics, we see that, unfortunately, we are moving towards $7.1 billion. By the end of the year, we will continue to see a decline in the export of IT services, in particular, due to Russia’s strikes on the critical infrastructure of Ukraine and problems with energy supply. At the same time, despite all the hardship, the IT industry shows unprecedented resilience. After all, compared to last year, the export of technology services still increased. Lviv IT Cluster continues to do everything to support the members of our community. In particular, we are working on the procurement of Starlink terminals for our member companies,” says Stepan Veselovskyi, CEO, Lviv IT Cluster.