IT service exports increased by 2% in February 2024, reaching $518 million according to the National Bank of Ukraine

This was reported by Lviv IT Cluster.

However, these figures remain 5.3%, or $29 million, lower than in February 2023. The share of IT services in the total structure of service exports in February 2024 was 37.2%, which is 4.4% lower than in February 2023, when computer services accounted for 41.6%.

«In February 2024, we are observing a slight increase in the export of IT services compared to January. However, this does not mean that the situation in the IT industry has already improved. Volumes continue to decrease compared to 2023. We predict that by the end of 2024, the export of IT services may decrease by 5-10%,»

said CEO of Lviv IT Cluster Stepan Veselovsky.

The expert noted that in order to prevent possible losses, it is necessary to use mechanisms for reserving key specialists on economic principles and the possibility of short business trips abroad.

The total export revenue of all services in Ukraine in February 2024 amounted to $1.39 billion, which is $31 million, or 2%, more than in January 2024.