Наталя Хандусенко Money 12 February 2025, 12:31

7 countries that brought the most revenue to Ukrainian IT in 2024: all of them provided $4,686 billion to the country's economy

For the second year in a row, Ukrainian IT exports are decreasing: by 8.5% in 2023 , and by 4% in 2024. Despite the decline, IT remains the largest exporter of services in Ukraine: last year, the industry ranked second with 11.5%, second only to food products. The United States brings the largest revenue to Ukraine's IT industry, but volumes have been decreasing for two years.

Countries with the largest revenue from IT exports

Last year, IT exports to the US amounted to $2.397 billion, or 37.2% of the total. Over the past 10 years, the US has accounted for the lion's share of Ukrainian IT exports: exports have grown by 25-35% year after year. However, since the start of the full-scale invasion, this trend has been declining. In the first year of the war, exports of IT services to the US grew by only 9%, and in 2023, they fell by 10%. The decline continued in 2024, by another 10.5%, according to the DOU study.
The United Kingdom is in second place: $565 million or 8.8%.
Malta is in third place: $501 million or 7.8%.
Cyprus is in fourth place: $397 million or 6.2%.
Israel ranks fifth: $297 million or 4.6%.
Sixth place behind Switzerland : $266 million or 4.1%.
The top seven is closed by Germany : $263 million or 4.1%.

This is followed by Poland, Estonia and the United Arab Emirates.

In total, these ten countries provided $5.15 billion, or 79.9% of export revenue for IT services in 2024.

The share of exports to EU countries has remained stable for the last two years - at 35.5% in 2023 and 35.8% in 2024. The share of the US in export revenues has decreased: 39.8% in 2023 and 37.2% in 2024. Over the period 2023-2024, the United Kingdom and Malta swapped places in the top seven, and Switzerland overtook Germany.

The Lviv IT Cluster also analyzed which countries saw an increase in foreign exchange receipts last year, and which countries, on the contrary, saw a decrease.

5 countries to which the volume of IT services exports increased the most in 2024 compared to 2023:

Gibraltar — +155.2%;
Australia — +25.3;
United Arab Emirates — +25.3%;
Bulgaria — +25.2%;
Spain — +22.4%.

5 countries to which the volume of IT services exports decreased the most in 2024 compared to 2023:

Sweden — −26.7%;
Hungary — −19.4%;
Italy — −19.0%;
Lithuania — −18.8%;
Norway — −16.7%."

“I’m walking around like an AI solving math Olympiad problems.” SoftServe President on the use of ChatGPT and the Chinese replica of DeepSeek

“We are already among the top 20 financial market participants in terms of the number of clients and active cards.” Highlights from an interview with NovaPay’s Innovation Director

Monobank co-founder Oleg Horohovsky registered a branch of the IT company "Kilobyte1024" in Mykolaiv