Ukraine's it exports grew by 28% in the first three months of 2022: the industry generated a record надходжень 2 billion in revenue

Ukraine's IT industry generated a record експорт 2 billion in export revenue in the first quarter of 2022, despite martial law, mobilization, and forced relocation of businesses and teams. The same figure in 2021 was 1 1.44 billion. In fact, the volume of it exports increased by 28%, according to data from the National Bank of Ukraine.

According to them, the rapid growth of the IT industry continued until the war and in February 2022 reached the highest monthly export rate in the entire history of the Ukrainian IT Market-8 839 million, which is 43% more than in the same period of 2021 (. 480 million).

According to the IT Ukraine Association, in the new military realities of the IT industry, it was possible to consolidate and quickly reformat thanks to anti-crisis business plans. Most companies have retained customers and the volume of their contracts. Thanks to this, the industry remains financially stable, provides regular foreign exchange earnings to the Ukrainian economy and the state budget, and pays taxes in advance.

"The numbers speak for themselves. In March 2022, the Ukrainian IT industry retained 96% of the volume of exports of Computer Services (5 522 million) compared to the same period last year (. 546 million)," the release says.

At the same time, in March, foreign exchange earnings due to the war decreased by only 38% compared to the record growth rate in February. And this is despite the fact that other export industries fell by 50-60%.

"Today, the IT industry is one of the few that is an economic support for the state and the future recovery of the national economy based on digitalization and those competitive advantages that crystallized in wartime and cause frank admiration of customers and partners: sustainability and effective crisis management, leadership and Social Responsibility, team cohesion and high efficiency," said Konstantin Vasyuk, executive director of the IT Ukraine Association.

According to him, already during the war, 77% of Ukrainian IT companies attracted new customers. Moreover, 56% of them expect growth of 5-30% this year.

Recall that at the end of 2021, the Ukrainian IT industry grew by 36%, including from експорту 5 billion in exports to.6.8 billion. At the same time, the number of specialists increased from 244 thousand to 285 thousand. In general, over the past three years, the industry has more than doubled in terms of exports and more than 50% in terms of the number of specialists, according to the Ukraine IT Report 2021 report.

At the end of March 2022, DOU asked the executive director of the IT Ukraine Association, Konstantin Vasyuk, what will happen to the Ukrainian market in the near future; whether IT specialists who went abroad with the outbreak of war will return to Ukraine, in which region the renaissance of domestic it will begin, and whether specialists should expect a reduction in salaries.