Mixed but positive forecasts for the IT market in Ukraine in 2012-2013

In the last two years Ukrainian IT market has been recovering after a sharp decline experienced in 2009. The market will continue to record double digit growth rates in 2012-2013. The macroeconomic and political situation will remain of crucial importance in the country.
The total sales of IT products and services in Ukraine hit UAH 14.5bn (€1.3bn) in 2011 while the annual growth rate of the IT market in the country declined to 18.1% last year from more than 43% in 2010. However this smaller market growth is more organic for the Ukrainian economic and business reality. It is important to explain that the value does not include the exports of software development outsourcing services in the country, which were more than a half of the domestic IT market value last year.

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