Ukraine, on the wave with IT outsourcing

Ukraine’s IT outsourcing sector boomed during last 10 years, according to one of Financial Times blogs, that also says that the Eastern European country earned over USD 1 billion on its IT services export in 2011 alone.

Same source mentions that the latest export figure increased almost 10 times in the last decade, with a 30-40% annual growth since 2008.

According to PR Newswire press release, comparably, in Romania the IT outsourcing exports are estimated at $586M, in Poland – $451M, according to data from Central and Eastern European Outsourcing Association. In Hungary, IT outsourcing market volume roughly equal $475M.

Monetizing on the science schools funded under communism, Ukraine produce now programmers instead of rocket scientists, with an estimated 16,000 IT specialists graduating each year, the post on FT blog also says.