Ukraine’s IT exports grew by 9.5% in May, still lower than last year
The volume of IT exports in May 2023 grew by 9.5% compared to April, but it remains lower than last year's figures, the Lviv IT Cluster reported on July 3, referring to data from the National Bank of Ukraine.
Ukraine's IT exports amounted to $2.8 billion in the first five months of 2023. Thus, export revenues from IT-industry are 12% less this year than in the same period last year.
The difference amounted to $374 million.
May shows a positive trend regardless of this slower growth, the Lviv IT Cluster wrote. In general, exports revenues dropped at the beginning of the year compared to the previous one.
"This May, the share of IT in the structure of total service exports was 41%. Last year, it was 47.5%," CEO at Lviv IT Cluster Stepan Veselovskyi said.
Read also: European Innovation Council allocates EUR 20 million for Ukrainian tech start-ups
"This once again reminds us that IT, as one of the backbone industries of the economy, needs support today. Given the current trend, there is every chance that the sector will end 2023 with the same revenue figure as in 2022 – $7.3 billion. This means that for the first time the tech sector will not show growth."
He also voiced the need to establish a clear mechanism for short businesstrips abroad for men of military age, who are banned from leaving the country during wartime. Such a mechanism would allow companies to at-tract new clients and sign new contracts.
It was reported recently that Ukrainian tech companies have managed to exempt 1,000 employees from military service.
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