IT services exports decrease by 9.3% to USD 3.4 billion in H1 - IT Ukraine

The IT Ukraine Association notes that in January-June 2023, IT services exports decreased by 9.3% to USD 3.38 billion compared to the 1st half of 2022.

This is stated in the message of the association, Ukrainian News Agency reports.

"In the current situation, the growth of the IT industry according to the results of six months would be a miracle. At the same time, the positive scenario - the preservation of export volumes and the cessation of the fall in export indicators of IT services, unfortunately, also did not happen. So, according to the results of six months, we record a trend for reducing the volume of exports of Ukrainian IT," commented Kostiantyn Vasiuk, executive director of the association.

According to the report, according to the results of 2022, the IT industry provided foreign exchange revenues to the Ukrainian economy in the amount of USD 7.35 billion.

"Our IT industry has retained expertise and personnel in Ukraine, but in order to maintain competitive advantages in the global market, this is not enough, so companies are forced to develop foreign offices in order to preserve existing ones and attract new customers. But, at the same time, in Ukraine IT companies are actively investing in new developments in the field of defense-tech and cybersecurity. Although such projects do not increase the export indicators of the budget, they do much more - they create new unique products for the future and help defend our country today," Vasiuk added.

As Ukrainian News Agency earlier reported, in January-March 2023, IT services exports decreased by 16% to USD 1.68 billion compared to the 1st quarter of 2022.

IT Ukraine Association is a national independent specialized association of IT companies, which represents the interests of more than 135 service and product IT businesses and more than 85,000 specialists in Ukraine.

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