The IT Ukraine association notes the high resilience of the in the conditions of the active phase of hostilities.
“According to our new data, already during the war, 77% of IT companies attracted new customers, and 56% of them expect growth of 5-30% this year,” IT Ukraine Executive Director Kostiantyn Vasiuk said.
IT Ukraine stressed that in the new military realities, the industry managed 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 association notes.
Thus, according to the data provided by IT Ukraine (with reference to the NBU data), in March 2022, the Ukrainian IT industry retained 96% of the volume of exports of computer services ($522 million) compared to the same period last year ($546 million).
“The war-driven decline in foreign exchange earnings in March by only 38% compared to the record growth rate in February ($839 million), as well as the 50-60% fall in other export industries, demonstrates, in fact, the margin of stability of the IT industry,” the association said.
IT Ukraine also noted that, according to the National Bank of Ukraine, the export IT industry provided a record $2 billion in revenue for the first quarter of 2022, despite martial law, mobilization, forced relocation of businesses and teams.
The same indicator in 2021 amounted to $1.44 billion. In fact, the volume of IT exports increased by 28%.
