In 10 months of 2022, the export of Ukrainian IT services exceeded $6B — research

According to the statistics on 10 months of 2022, the export of IT services grew by 9.9% compared to last year, and brought in more than $6 billion in revenue, surpassing the 2021 figure by $542 million. The export of IT services remains one of the few areas that continue to thrive despite war, Lviv IT Cluster informs in its new research.

Image: Lviv IT Cluster
  • At the same time, the total export of Ukrainian IT services decreased by 10.8%
  • compared to the corresponding period last year. Negative trends are also observed in the IT sector, with negative indicators prevailing for the second month in a row.
  • According to the NBU, compared to September, the export turnover of IT services decreased by 7.4% in October. This means that the industry received $43 million less ($535 million).
  • Compared to last year, in October the turnover was 16% lower than during the same period in 2021.
  • Meanwhile, due to a certain reduction in other export services, IT services still make up a significant part of the export structure — 43.8%. This is 5.7% more than last year.

“When we were working on our IT Research Resilience study, we predicted
different scenarios for the export revenue of the IT industry: from an optimistic $8.5 billion to a pessimistic $7.2-7.5 billion. Following the current dynamics, we see that, unfortunately, we are moving towards $7.1 billion. By the end of the year, we will continue to see a decline in the export of IT services, in particular, due to Russia’s strikes on the critical infrastructure of Ukraine and problems with energy supply,”

says Stepan Veselovskyi, CEO, Lviv IT Cluster.

Why is it important?

Compared to last year, the export of IT services still increased. However, due to full-scale war, strikes on critical infrastructure, and blackouts, even IT services, which had continued to grow until the last moment, began to give ground.

It is partly caused by the unwillingness of some clients to work with an unstable country, where work deadlines often depend on Russian shelling and sudden blackouts. However, Ukrainian companies are already working on creating virtually autonomous offices to ensure the possibility of normal work, as well as creating a map of places with light and Internet for individual specialists.