Trends in the Development of the Ukrainian IT Industry

by Meifan Honcharuk
Tuesday, November 16, 2021

Export of Ukrainian IT services grew to $4.8 billion in 9 months

Ukrainian IT services export in years

Researchers note that since 2013, IT export has been growing faster than total exports of Ukrainian goods and services. For 7 years, export earnings to the Ukrainian economy from the IT industry have tripled. The most significant growth spurt was recorded in 2019, when revenues from IT increased by 30% over the year.

It is not surprising because the number of engineers in Ukraine is increasing by almost 20% per year. At the same time, the need for qualified personnel is more than 30%, and this figure is growing.

Export of Ukrainian IT services for 2020

In 2020, the export of Ukrainian IT services for the first time exceeded $5 billion per year and surpassed the export indicators of transport services and mineral products. In 2020, the export of IT services increased by $853 million, that is, by more than 20%. Thus, the share of computer services in total exports reached 8.3%.

Colossal results of the IT industry in 2021

For 9 months of 2021, the export of Ukrainian IT services increased by 35% compared to the same period last year. The business's revenue was $4.84 billion, slightly less than for the entire 2020 — $5.03 billion.

• In 2021, the share of IT services in Ukraine increased by 14% and is 38% against 24% in 2020.

• The number of sole open proprietors specializing in computer information services increased by 40% over the year.

• For 2020-2021, the number of IT companies also increased: those that provide computer services increased by 22%, informational — by 10%.

The share of the IT industry in the country's GDP

At the end of September 2021, president of Ukraine, Volodymyr Zelensky, said that the share of the IT industry in the country's GDP is 4%. At the same time, it is planned to increase this figure by 2.5 times. 

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