IT exports in May exceeded the April figure by $15M.

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 year export volumes will decrease in the range of 3.2% to 5% compared to 2023. For five months, total IT export turnover is $2.7B, (-4%).

As the co-founder of IT company Intellias stated, pessimism about the fall of the IT sector is relative if compared with previous years, when “it was normal to grow by 20%.” Intellias is doing its part to maintain a positive growth rate.

“We have closed two takeover deals. We are buying others, and this allows us to grow. We take over foreign companies more often because then, in addition to expertise, we diversify our capital,” he explained.