The Lviv IT Cluster published the results of a comprehensive study of the Ukrainian tech industry during the war IT Research Ukraine 2024. Among other things, it worsened the forecast of a drop in the volume of exports of IT services in 2024, which was previously estimated in the range of 3% to 5% compared to last year.
The Lviv IT Cluster published the results of a comprehensive study of the Ukrainian tech industry during the war IT Research Ukraine 2024. Among other things, it worsened the forecast of a drop in the volume of exports of IT services in 2024, which was previously estimated in the range of 3% to 5% compared to last year.
«Despite the challenges of a full-scale war, the technology industry remains one of the key ones in the Ukrainian economy and provides significant foreign exchange earnings,» the study says.
It states that the IT sector is the largest exporter of services in Ukraine: computer services account for 38% of the total volume of services. It ranks 2nd in the overall structure of Ukrainian exports, after the export of food products.
Lviv IT Cluster worsened its previous forecast regarding IT exports. According to the forecast in the IT Research Ukraine 2024 study, even with an optimistic scenario at the end of 2024, the volume will decrease by at least 4% compared to 2023. And with a pessimistic one, this indicator will reach 6% .
«That is, in the end, we should expect $6.3-6.45 billion. Therefore, in 2024, for the second year in a row, the technology industry will not show growth compared to last year,» IT Research Ukraine 2024 states. At the same time, the share of IT in the gross domestic product has decreased against the background of GDP growth and is 4,4%.
Earlier, the National Bank of Ukraine announced that in September the volume of IT exports from the country amounted to $519 million, which is $12 million more than in August. This is almost the same number as last year.
We will remind you that the report IT Research Ukraine 2024 also contains data that Ukrainian tech companies continue to open new offices, but mostly abroad.
