Ukraine's IT services exports fall 8.5% last year

MOSCOW. Feb 1 (Interfax) - Ukraine's IT services exports in 2023 dropped to the level of 2021, down 8.5%, or $622 million compared to the figure for 2022, to $6.7 billion, Ukrainian media reported, citing the IT Ukraine association, which in turn referred to the data from the National Bank of Ukraine.

"Exports of IT services in 2023 fell both in its volume and its share of Ukraine's total exports. According to the results of 2023, the IT industry provided $6.7 billion in revenue to the Ukrainian economy, down 8.5% or $622 million year-on-year. The exports dropped to the level of 2021, when it amounted to $6.8 billion, in 2020 it was $5 billion," the association said in a statement.

In December 2023, IT services' exports rose 8.3%, or $611 million, compared to the previous months, but it was linked to the finalization of projects and did not affect the consolidated results, IT Ukraine said.

The share of IT in total services exports from Ukraine in 2023 also went down to 42% against 45.3% in 2022.

At the same time, the export of computer services remains the largest among other Ukrainian exported sectors, the association said.