Business news from Ukraine


30 September , 2019  

Growth of IT industry in 2019 will be 30%, according to Vice President for Strategy and Technologies at GlobalLogic Ukraine Andriy Yarorsky.
He told reporters at a conference in Lviv on Friday, September 27 that by the end of 2019, only the export of computer services will bring about $3.5 billion to the country’s economy. Having maintained such high growth rates, the export software development industry can grow to $4.5 billion by the end of 2020, Yavorsky said.
“On average, the IT industry grew by 20-25% annually. We expect more rapid growth this year thanks to favorable conditions on the international market and demand for the developments by Ukrainian specialists. According to our estimates, the market growth can reach 30% by the end of 2019. GlobalLogic’s revenue in Ukraine traditionally grows slightly faster than the industry – by 32% in the first half of 2019 – and we plan to maintain high growth rates until the end of the year,” he said.
Yavorsky said that according to the results of the first half of 2019, the export of computer services amounted to about $1.6 billion, which is 31% more than the same period in 2018. There is also an increase in the number of IT specialists: if according to market estimates as of the middle of 2018, there were about 130,000 specialists in the industry, then according to the IT Ukraine Association, there are currently more than 160,000 specialists in the market, which is 22% more than a year earlier. However, according to him, the industry still lacks qualified engineers.
According to Yavorsky, the amount of taxes paid by the IT industry in January-June 2019 increased 29% compared to the same period in 2018, to UAH 8 billion (companies and private individuals). GlobalLogic Ukraine paid 71% more taxes in the first half of 2019 than last year, he said.
GlobalLogic Ukraine is the largest software developer in Ukraine. It has offices in Kyiv, Kharkiv, Lviv, and Mykolaiv.