Ukraine's IT services exports grow annually but slow month-over-month

In July 2023, the export of IT services from Ukraine showed steady growth, compared to the same period last year, despite a slight decrease in relation to the previous month, reports DOU community.

According to the National Bank of Ukraine, in July 2023, the volume of exports of IT services amounted to $559 million, which is $17 million more than in July 2022. Although a decrease of 2.4% was observed from the previous month, this indicator showed a growth of 3.1% compared to the same period of the previous year.

According to the analysis, the growth of export of IT services is stable and stays within the range of $500-600 million per month, with minor fluctuations. Compared to similar periods of previous years, a stable growth of this sector is observed. For example, in July 2022, the volume of exports amounted to $542 million, in July 2021 – $574 million, while in June 2020 this indicator was at $413 million.