IT continues to serve as one of the key drivers and now the main pillars of the Ukrainian economy, providing a stable inflow of foreign currency. In November alone, this segment grew by 8% over the month, and in just 11 months, the IT sector earned 7% more from exports than in the same period last year – $6.6 billion against $6.2 billion. This is stated in a fresh OpenDataBot research.
Given the growth rate in 2022, the export of IT services in Ukraine will exceed $7 billion.
OpenDataBot notes that IT is actually the only export area that has grown in 11 months of 2022. And it is IT that, for the most part, the export of services owes a relatively small percentage of the fall – over 11 months of 2022, the export of goods and services in Ukraine fell by 29% – from $73.2 billion to $52.2 billion.
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The export of goods decreased more (-34%), while the export of services suffered significantly less (-11%). At the same time, until last year, the share of service exports increased from 22% to 28%.
The share of IT in the export of goods and services increased from 8% last year to 13% in 2022. Moreover, now IT accounts for almost half (45%) of all exports of services against 37% in 2021.
For 11 months of this year, the income from the export of IT services even exceeded the income from one of the main profitable export industries – the export of metals, and significantly: by almost $1 billion.
This is definitely a positive trend and the big plus is that this growth trend remains unchanged. We hope that the IT industry will continue to grow in 2023.
