Ukraine boosts IT services export by 9.5% to $590M in May

"May was more successful for the export of IT services than the previous month. The indicator increased by 9.5% and totaled $590 million," Lviv IT cluster reports based on NBU data.

According to the company data, these indicators are 1.8%, or $11 million less compared to May of last year.

In January–May 2023, the volume of exports of IT services totaled $2.8 billion, down 12% compared to the same period in 2022. The difference between the periods is $374 million in dollar equivalent.

According to Stepan Veselevskyi, Lviv IT cluster director general, if the trend continues, the industry has a chance to end 2023 with the same revenue as in 2022 – at the level of $7.3 billion.

As reported, the export of IT services from Ukraine in January-March 2023 amounted to $1.68 billion, down 16% compared to the same period in 2022.