According to YouControl analysts, IT activity peaked on the eve of the Russian invasion in the fourth quarter of 2021, when $2.1B was brought into the country. Since then, the average IT export volume has dropped to $1.7B, i.e., the reduction in quarterly export volume was about 20%.
Two-thirds of the total net income declared by Ukrainian IT companies in 2022 was concentrated in Kyiv. The capital of Ukraine has 3,013 (52.4%) IT companies registered with positive turnover in 2022. The Lviv (10.4% of revenues), Kharkiv (8.1%), Dnipropetrovsk (4.2%), Vinnytsia (3.4%) and Odesa (1.7%) regions trail by a significant margin.
Regarding revenue, the main subsidiary of the EPAM Systems holding in Ukraine was in first place with a declared net profit of UAH 20B, which is 37.5% higher than in 2021. In second place is GlobalLogic Ukraine with UAH 11.5B (+49%). Luxoft Solutions rounds off the top three with UAH 5.9B (+63%).