Ukrainian IT exports in March reached $545 million: growth in the month, but a decline in annual terms

In March 2025, the volume of exports of IT services from Ukraine demonstrated positive dynamics on a monthly basis, increasing by 1.9% compared to February and reaching $545 million. At the same time, analysts record an overall decrease in annual comparison, which indicates a certain cooling of the domestic IT market.

According to the Lviv IT Cluster, March revenues from IT exports were 3.5% or $20 million lower than in the same month of 2024. The indicator for the first quarter of 2025 amounted to $1.57 billion, which is 1.3% or $21 million lower than the result of the same period last year.

A quarterly comparison with the last quarter of 2024 also revealed a decline: exports decreased by 5.9%, or $99 million. This indicates a gradual decrease in activity in the sector, which is partially offset by monthly fluctuations in the positive direction.

Despite the annual decline, in March the Ukrainian economy still received $10 million more in revenues from IT services than in February. The share of computer services in the structure of service exports in March 2024 was 39%, which remains a significant contribution to the overall indicators of foreign economic activity.

The total volume of export revenues from all types of services in March 2025 reached $1.28 billion — $28 million or 2.2% more than a month earlier. This indicates the preservation of growth dynamics in a number of areas, despite the challenges faced by business in wartime conditions.

As noted by Stepan Veselovsky, CEO of the Lviv IT Cluster, March's figures demonstrate cautious stabilization: "Despite a slight growth compared to the beginning of the year, quarterly results indicate an overall decrease in export revenues. This is not a critical drop, but the market is operating in a mode of restrained adaptation."