The report of the National Bank of Ukraine highlights the growth of the export of IT services from Ukraine in March 2024, compared with the previous months and the same period in 2023, and also outlines the main partner countries.
Export of IT services
March indicators
In March 2024, the volume of IT services exports from Ukraine reached 565 million US dollars. This is more than 39.2% of total exports from Ukraine for this month, which amounted to 1441 million dollars. March was up 47 million from February, and up 57 million from January, which had the lowest numbers.
Three-month results
In general, for the first three months of 2024, the export of IT services from Ukraine reached 1591 million dollars. Although this figure is slightly lower compared to the same period in 2023, when it was $1,675 million, it nevertheless demonstrates the steady growth of the industry.
Key partners
The main partner countries of Ukraine in the field of IT services export remain the United States United States of America, Great Britain, Malta, Israel and Cyprus. Cooperation with these countries is decisive for the development of the Ukrainian IT industry.
Retrospective of 2023
In 2023, the export of Ukrainian IT services amounted to 6.7 billion dollars, which is 8.4% less than in 2022 , when it hit a record high of $7.3 billion. Despite some decline, the industry has shown resilience and potential for further growth.
Glossary
- The National Bank of Ukraine (NBU) is the central bank of Ukraine, which performs the functions of regulating monetary policy and ensuring the stability of the national currency .
- Export of IT services - provision of IT services (software development, consulting, outsourcing, etc.) by Ukrainian companies and freelancers to foreign customers.
- USA (United States of America) is a federal presidential constitutional republic consisting of 50 states and the federal District of Columbia.
- Great Britain is a sovereign state located in the British Isles.
- Malta is a country on the Maltese Islands in the Mediterranean Sea.
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Answers to questions
What is the volume of export of IT services from Ukraine in March 2024 ?
What was the total volume of exports of IT services from Ukraine in the first three months of 2024?
How has the volume of IT exports of Ukraine changed compared to February and January 2024?
What was the share of the export of IT services in the total export from Ukraine in March 2024?
What are the main partner countries of Ukraine in the export of IT services?
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Discussion of the topic – The Ukrainian IT industry continues to flourish: exports of services reached $565 million in March
In March 2024, the export of IT services from Ukraine amounted to $565 million, and in the first three months it reached $1 billion 591 million, which indicates the stability and success of the Ukrainian IT industry, despite the challenges.
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Андрій
I am interested in the opinion of experts: what affects the increase in the export of IT services from Ukraine recently? 💻 Are these seasonal fluctuations, or are there other reasons?
Ганна
In my opinion, the growth of indicators indicates a high demand for Ukrainian IT specialists on the international market. Their skills and professionalism are highly valued abroad. 🌍
Михайло
I agree with Anna. Ukrainian IT companies and freelancers are actively working on exports, which contributes to the growth of the export of IT services. 📈 At the same time, due to the situation in the country, many people have moved and work from abroad.
Лукаш
On the other hand, friends, do not forget about the devaluation of the hryvnia. Most of the income in dollars or euros means an increase in volumes in the hryvnia equivalent. 💶 This is also worth considering when analyzing numbers.
Григорій
Well, you know, all these new-fangled IT and service export things are just wishful thinking. 😒 In the village where I live, no one has heard of it, everyone is satisfied with the traditional economy.
Оксана
Grigory, don't be such a skeptic! 🙂 The IT industry in Ukraine is growing rapidly and has already managed to become one of the country's largest export items. This brings colossal income to the economy!
Пьотр
I fully support the previous speakers. The export of IT services is extremely important for the country, because it is a high-tech and innovative industry. 💡 Especially since employees can provide services remotely from anywhere in the world.
Беата
And doesn't the fact that more and more countries are interested in outsourcing IT services to Ukraine affect growth? 🌍 This is an additional incentive for the development of the industry and increase in exports.