Ukraine’s IT Services Export Declines 3% in April 2024

The volume of export of IT services from Ukraine for April 2024 fell by 3% and amounted to $545 million, according to the report of the National Bank of Ukraine.

  • The value of IT exports of Ukraine decreased by $20 million (approximately 3%) compared to March 2024 ($565 million), but this is $27 million more than what was exported in February ($518 million). The lowest figure remained in January — $508 million.
  • The export of IT services accounted for more than 38.3% of total exports from Ukraine in April 2024 — $1,423 million.
  • In general, in the first four months of 2024, the volume of export of IT services from Ukraine reached $2 billion 136 million. For the same period in 2023, it amounted to $2 billion 214 million.

The main partner countries of Ukraine remain being the USA, Great Britain, Malta, Cyprus, and Israel.

Partner countryThe volume of exports of IT services in March 2024 (million US dollars)The volume of exports of IT services in April 2024 (million US dollars)The volume of exports of IT services in April 2023 (million US dollars)
USA225222205
United Kingdom414844
Malta463761
Cyprus343428
Israel272021
Switzerland232223
Germany242021
Estonia121413
Poland121311
Canada1389

In addition, the export of Ukrainian IT services in 2023 amounted to $6.7 billion, which is 8.4% less than in 2022, when it reached a record $7.3 billion.

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