Report: Ukraine’s IT export exceeded $5 billion in 2020

Last month the Ukrainian online tech resource TechUkraine has released its annual report on the country’s tech sectors. 

“While 2020 has been a year of groundbreaking changes, the Ukrainian tech sector has demonstrated its proactivity, flexibility, continued job creation, great kicks off, and investment deals,” believe the authors of the report. 

These achievements came as the country experienced the impact of the 2020 global Covid-19 pandemic. 

The report highlights the following trends and numbers:

  • According to economic data from the National Bank of Ukraine, the country’s IT exports grew by 20.4% in 2020.  The sector’s annual export total exceeded $5 billion for the first time. Computer services attained a share of 8.3% of total exports.  
  • Several global giants entered Ukraine: Apple, Google, Reddit, Spotify and Viber, as well as La French Tech.
  • A variety of Ukrainian or Ukrainian-founded startups attracted financing in the country or abroad: thus Restream, Mobalytics, Preply raised $50 million, $11.25 million and $10 million in funding, respectively, while AllRight, ClassTag, DMarket,, secured $5 million or more. 

The report also lists the mergers and acquisitions involving Ukrainian tech companies, the international awards they received, as well as important government initiatives.

In the first in a series of webcasts produced by the US-Ukraine Foundation, Nataly Veremeeva, Director of TechUkraine, presents the report, “Overview 2020: Ukrainian Tech Ecosystem.” 

Webcast producer and host Mike Buryk discussed the report findings with Nataly Veremeeva and UVCA CEO Olga Afanasyeva.  The webcast, made with the support of the US-Ukraine Foundation, is available for viewing on YouTube here

Topics: Data & reports, International, IT services
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