The Association’s observations, based on NBU data, depict that the similar situation took place in 2014, when the IT sector also showed a 26% drop and maintained a position of $350-400 million every quarter. However, in 2016, the IT sector resumed growth, and by 2022 its pace had already reached 20% annually.
Before the full-scale invasion, the IT industry showed rapid growth, the volume of exports of IT services in the 4th quarter of 2021 amounted to $2.1 billion. The share of IT in the export of Ukrainian services during that period was from 39% to 48%. In the first year of the War, January-December 2022, growth inertia was maintained – the volume of exports increased by $400 million compared to 2021.
As the IT Ukraine Association reported with reference to the National Bank of Ukraine,
by the results of 2022, the IT industry provided $7.35 billion worth of foreign currency income to the Ukrainian economy.
“IT Ukraine” Association is the largest national community of IT companies, which represents more than 130 service and product IT businesses and more than 85 thousand professionals in Ukraine.
