The IT sector of Ukraine brought a record 2 billion in export revenues in the first quarter of this year, despite the war, mobilization and relocation of teams, according to the Association of IT Ukraine, KYIV. UkraineGate , 11 , May , 2022 | Economy .
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“According to the National Bank of Ukraine, the export IT industry provided a record $ 2 billion in revenue for the first quarter of 2022, despite martial law, mobilization, forced relocation of businesses and teams,” the statement said.
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A similar figure in 2021 was $ 1.44 billion. USA. As indicated, in fact, the volume of IT exports increased by 28%.
The rapid growth of the industry, as noted, continued until the war and in February 2022 reached the highest in the history of the Ukrainian IT market monthly export – 839 million dollars. US, which is 43% more than in the same period of 2021 (480 million US dollars).
“In the new military realities, the industry has managed to consolidate and quickly reformat thanks to anti-crisis business plans. Most companies have retained customers and the volume of their contracts. (…) In March 2022, the Ukrainian IT industry retained 96% of computer services exports (522 million USD) compared to the same period last year (546 million USD) “, – added in the association.
The war-related decline in foreign exchange earnings in March was said to be only 38% compared to a record growth rate in February, as well as a 50-60% drop in other export industries.
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The Ministry of Economy reported that in March 2022, exports of Ukrainian goods fell by half, imports – more than three times. Exports of metals and agricultural products were particularly hard hit, while exports of a number of deep-processed goods remained virtually unchanged from pre-war times.
Source: Ukrgate