How is Ukraine’s software industry weathering the war?
The sector has proved resilient, but the outlook is darkening
BATTERED BY THE war, Ukraine’s economy will shrink by nearly a third in 2022, according to the country’s central bank. But one sector has fared much better than most. The Ukrainian IT Association, a tech-industry body based in Kyiv, the capital, reckons that in the first six months of this year software exports grew by 23% compared with the same period in 2021. Only 2% of Ukraine’s 5,000 software companies have folded this year. Why has the industry been so resilient, and what’s next for the country’s coders?
This article appeared in the The Economist explains section of the print edition under the headline “How is Ukraine’s software industry weathering the war?”
More from The Economist explains
What do Greenlanders think of being bought?
Donald Trump’s desire for Greenland, and a shabby visit by his son, reignite the independence debate
What would Donald Trump gain from seizing the Panama Canal?
The president-elect claims the crossing is controlled by China and rips off American consumers
Where does Santa come from?
How a miracle-working Greek bishop, Dutch folk figure and early New York icon became the ubiquitous symbol of Christmas
Who are the main rebel groups in Syria?
They were united against the country’s dictator. Now they have little in common
Is RFK junior right to say America allows more toxins than the EU?
He is, but things are slowly beginning to change
What would it cost to kill coal?
The price of shutting down coal power, and what would be gained