Creative Industries Federation responds to the new DCMS GVA figures
The Creative Industries Federation today welcomed new economic growth figures that show the creative industries grew at five times the rate of the wider economy, in real terms, from 2017-2018.
The sector is now worth £111.7bn in Gross Value Added (GVA) to the UK - more than £35 billion more than the automotive, life sciences, aerospace and oil and gas industries combined. It grew by 7.4% in real terms over the 2017-2018 period, compared to a 1.4% rate of growth for the economy as a whole.
All sectors within the creative industries reported real-term growth with particularly high growth shown by architecture (7.8%), advertising and marketing (11.5%) and creative tech including games (10.3%). Music, performing and visual arts grew by 2.3%, publishing by 3.5%, fashion and design by 2.9%, crafts by 2.4%, film, TV, radio and photography by 3% and museums, galleries and libraries by 1.9%. The creative industries now make up 5.8% of the UK economy.
Caroline Norbury MBE, CEO of the Creative Industries Federation and Creative England, said:
“These impressive figures are a testament to the innovation and resilience of our world-leading creative industries. These are the industries of tomorrow: resistant to automation, at the forefront of innovation, and with the ability to tackle major global challenges such as climate change. As we enter the next stage of negotiations with the EU and major countries around the world, it is vital that we maintain this momentum, so that the UK can continue to prosper as a global leader in creativity and creative enterprise."