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In January 2025, exports of IT services dropped to $489M, down $19M compared to the same period in 2024. This marks the worst start to a year since the onset of the full-scale war. While the Ukrainian IT sector experienced annual growth of 14.7% from 2017 to 2019, it has recently seen slowdowns due to the pandemic, the full-scale invasion, and economic instability. The number of companies in the sector fell by 25% in 2022 and has yet to return

According to the National Bank, in January 2025 IT export volume fell by 20.7%, totaling $489M. This represented a loss of $128M for the Ukrainian economy compared to December of last year. Furthermore, these figures are down 3.7%, or $19M, compared to January 2024. As noted by the Lviv IT Cluster: “This January has proven to be the worst since the beginning of the full-scale invasion. The challenges posed by the invasion continue to have a detrimental impact on the

The decline in exports of Ukrainian IT services continues. Even under an optimistic scenario, by the end of 2024 the decrease in volume will be at least 4% compared to last year, and this figure could reach 6%, according to a study by the Lviv IT Cluster. In the end, the industry should expect $6.3-6.45B in export revenue. This means that in 2024, the technology industry will not demonstrate growth over the previous year for the second consecutive year. However,

This is a difference of $170M compared to the first half of last year. Experts predict that the decline will continue even under an optimistic scenario, according to industry experts. “The trend of falling volumes continues. In January and June, the lowest figures were recorded during the entire war,” said the Lviv IT cluster. In the first half of 2024, IT exports from Ukraine amounted to almost $3.21B. The ten countries that have brought Ukraine the most revenue this year

In May, IT exports from Ukraine amounted to $560M, which is $15M more than in April 2024. At the same time, in May 2023 this indicator was one of the highest for the entire year, with $590M. In addition, the share of IT services is still the largest indicator among all exported services and ranks second in the overall structure of Ukrainian exports. However, the Lviv IT Cluster predicts that, even under an optimistic scenario, by the end of the

According to the NBU, in November 2023 Ukrainian IT companies exported services worth $564M, $35M more than in October, and $43M more than in September 2023. However, compared to November 2022 ($580M), the volume of IT exports decreased by $16M, or by 2.8%. Also, this amount is $111M less than in November 2021 but $117M more than in November 2020. Among the countries that provided the most revenue are the US, Malta, and the UK. At the same time, in

IT services account for 40% of Ukrainian service exports. For comparison, the share of IT export services was almost 45% in 2022 and 37% in 2021, according to the Prime Minister of Ukraine, Denys Shmyhal. After the start of the full-scale war last year, the IT industry became the only area of Ukrainian exports that grew. This year, the situation has changed for IT, and according to the available data, the share of IT exports in 2023 has decreased by

IT services became the only business area that grew in 2022 compared to 2021. “In the first five months of this year, the share of IT in all service exports was 46% against 37% a year earlier. From January to May 2022, all service exports remained at the level of the corresponding period the previous year, $6.8B. At the same time, the export of goods fell by 20% – from $22.5B to $17.9B,” reported Opendatabot. Additionally, the geography of product

 According to the National Bank of Ukraine, in the first five months of 2022, the IT industry brought $3.2B to the Ukrainian economy. According to the IT Ukraine Association, as of June 1, the IT sector transferred to the budget over UAH 29.5B ($1B) in tax payments and fees. Moreover, since the war, exported IT services increased by 6% over the same period in 2021 and amounted to $1.7B. According to the latest IT Ukraine survey, 56% of participating companies

According to the Executive Director of the IT Ukraine Association, Kostiantyn Vasyuk, the volume of Ukrainian IT exports in 2021 was $6.8B (in 2020 it was $5B). At the same time, the share of IT in the structure of services exports in Ukraine last year increased by 4.8%, to a total of 37%. The share of computer services exports of Ukraine’s GDP in 2021 was 2.7%. For comparison: in Poland it was 1.3%, in Lithuania – 1.2%, Slovakia – 1.2%,

The NBU reported on the state of Ukraine’s balance of payments. The indicators of exports of computer services for the period January to September 2021 brought $4.87 bln. The relative growth compared to the same period in 2020 reached 38.35%, reported minfin. The share of this indicator in the volume of exports of Ukrainian services increased from 24.00% a year earlier to 40.66% this year.

said Vadym Prystiako, Ukraine’s Ambassador to Britain during the Ukrainian Prism discussion. “At this rate, Britain will become one of our main trade partners by the end of this year,” he said. Noting that the Britain is now one of the top five consumers of Ukrainian services, he added: “IT is now greater than the traditional groups, such as metal, agricultural products, oil.” On December 16 2021, two weeks before Brexit went into effect, the Rada ratified a new Free