The IT Export Industry continues to support Ukrainian Economy

Publication date:

09.08.2022

Publication from:

According to the National Bank of Ukraine, the export volume of computer services for the first half of 2022 is 3.74 billion dollars, which is 23% more than for the same period of the previous year. This is almost UAH 110 billion of revenues to the economy of Ukraine. At the same time, the amount of taxes and fees paid by the IT industry in the first half of the year amounted to UAH 32.6 billion.

Since the beginning of 2022 and despite the War, the national IT industry has been growing steadily. The industry actively donates to the Armed Forces of Ukraine and to humanitarian projects, pays taxes on time, and has maintained its position on the international market.

The export IT industry has withstood challenges by showing resilience and continues to support the economy of Ukraine. However, export figures for June indicate a decrease in growth rates compared to the two previous war months. Changes in the currency policy of the National Bank of Ukraine in May, the uncertainty of the new procedures implementation timing regarding the possibility of booking IT professionals and their temporary travel abroad were likely factors of such trends. The national IT industry still retains significant potential for growth. However, if critically important issues are not resolved in the coming weeks, we will presumably see a regression in the next reporting periods already.