Ukrainian IT Export volume in November 2022 increased by 8.4%. This is 14% less than in 2021

In November 2022, the export revenue of IT services increased by 8.4% and brought in $45 million more compared to October. However, compared to 2021, the export volumes in November were still 14% lower than in the same month in 2021, Lviv IT Cluster reports.

  • According to the National Bank of Ukraine, in November, the export of computer services still made up almost half of the structure of total service exports – 44.3%. This is 5.4% more than the previous month. Overall, for the 11 months of 2022, the share of IT exports is 45.3%, which is 7.9% more than for the same period in 2021.
  • In addition, from January to November 2022, IT services exports increased by 7.3% and brought in over $6.5 billion, exceeding the 2021 figure by $447 million. At the same time, total service export revenue for this period decreased by 11.5% compared to 2021.

“For the first time in two months, the volume of IT exports has increased. However, this is more of an exception than a rule. Compared with last year, the monthly numbers are not encouraging. At the same time, IT is the only sector that had positive dynamics in 2022. The industry was able to withstand thanks to a high level of adaptability. However, it requires government support,”

notes Stepan Veselovskyi, CEO of the Lviv IT Cluster
  • Otherwise, there is a great risk that this year the first drop in IT service exports compared to last year in the past twenty years may happen, the expert thinks.