Ukrainian IT industry brought $7.34B from exports to the economy

As the results of 2022 show, the IT industry provided export earnings to the Ukrainian economy in the amount of $7.34 billion. The volume of exports increased by $400 million compared to the pre-war year 2021, IT Ukraine reports.

As of January 1, 2023, the amount of taxes and fees to the consolidated budget of Ukraine paid by the IT business reaches UAH 32.2 billion, which is UAH 4.4 billion and 16% more than the last year. At the same time, the number of individual entrepreneurs who are taxpayers has also increased.

Thanks to maintaining growth rates, an active IT business supports the economy as well as the Armed Forces of Ukraine, creates new jobs during the war, implements humanitarian initiatives, and thus contributes to the victory.

“The figure of more than seven billion dollars from the export of computer services is also unique as it is the largest one in the entire history of the existence of the Ukrainian IT industry, which was achieved precisely during the war,”

Kostiantyn Vasiuk, executive director of the IT Ukraine Association, noted.

In August 2022, IT Ukraine published the data which showed that since the beginning of the full-scale invasion, more than 50% of the surveyed IT companies did not relocate and switched to remote work. The companies noted such factors among the reasons not to relocate: the inability of male IT specialists to leave the country, the desire of IT companies to pay taxes in Ukraine, the reluctance of most of the team to move, and the higher costs of doing business outside of Ukraine.