The challenges of full-scale invasion continue to have a negative impact on the tech industry.
IT services exports in Ukraine amounted to $489 million in January. This is the lowest figure since the start of the full-scale war.
This was reported by Lviv IT Cluster with reference to data from the National Bank of Ukraine.
According to the NBU, in January 2025, the volume of IT exports amounted to $489 million, down 20.7%. This brought the Ukrainian economy $128 million less compared to December 2024.
These figures for IT services exports are 3.7% or 19 million less than in January 2024.
“This January has shown itself to be the worst since the beginning of the full-scale invasion. Last year, its figure was $508 million, and in 2023 – 528. The overall dynamics in 2024 remained weaker than in 2023. And, according to our forecasts, the situation will not get better this year. After all, the challenges of the full-scale invasion continue to negatively affect the tech industry,” said Stepan Veselovsky, CEO of the Lviv IT Cluster.
He noted that if the war continues, then in 2025 all the risks associated with it will only deepen.
At the same time, Veselovsky noted that the IT sector continues to be one of the largest exporters of services in Ukraine and provides significant foreign exchange earnings to the economy.
It is reported that the total export revenue of all services of Ukraine in January 2025 amounted to $1.21 billion. This is $423 million or 25.8% less compared to December 2024.
The share of computer services in the structure of all IT exports in January 2025 was 40.3% – 3.5% more than in January 2024. Then the share of computer services reached 36.8%. However, this figure is 2.6% more than in December 2024.
By the way, the International Monetary Fund has revised downwards its forecast for Ukraine's economic growth in 2025.
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