The Ukrainian IT industry showed a record high financial result, despite the war

 

Resilience and tenacity of the tech industry is the powerful economic & financial frontier which backing Ukraine in fighting against russian aggression.

  • According to the National Bank of Ukraine, for the first quarter of 2022, Ukrainian IT provided the Ukrainian budget with a record $2 billion in export earnings, despite martial law, shelling, mobilization, forced relocation of enterprises and collectives.
  • The same figure for 2021 was $1.44 billion. In fact, the volume of IT exports increased by 28%, according to IT Ukraine Association
  • The war-related reduce of foreign exchange earnings in March by only 38% compared to the record growth of February, as well as the decline in other export industries by 50-60%, shows, in fact, a margin of Ukrainian  IT sector stability.

Today, the IT industry is one of the few that provides economic support for the state and the future recovery of the national economy based on digitalization and the competitive advantages that crystallized in wartime and arouse open admiration of customers and partners: resilience and effective crisis management, leadership and social responsibility, team cohesion and high efficiency. According to our new data, 77% of IT companies attracted new customers already during the war, 56% of them expect to grow by 5-30% this year, – said Konstantin Vasyuk, Executive Director of the IT Ukraine Association.

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The IT industry provided $2 billion in export earnings during the war
You can donate to TechUkraine here.
Ukrainian entrepreneurs donate to the military-1
Support Ukraine!
  • Come Back Alive is one of the largest charitable foundations that supports Ukrainian soldiers, founded by the IT specialist Vitaliy Deynega. The organization collected more than 210 million UAH (more than $7M) in 2014. According to Na chasi, the Patreon page Come Back Alive is in the top ten projects by the number of financial donations.
  • MacPaw Development Fund
  • Army SOS, which develops drones;
  • Everybody Can, an organization that supports internally displaced people;
  • Help on the Ministry of Defense website.
 
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