The Creative Industries Economic Estimates report published today (14 January) demonstrates how it contributes towards UK employment, gross value added (GVA) and exports of services.
It highlighted the GVA figure from 2012 meant the UK creative sector was contributing more than £8m an hour to the economy.
The report found the sector grew by almost 10% in 2012, outperforming all other sectors in the UK, and accounted for 5.6% of UK jobs in the same year – 1.68 million in total. Employment in the creative industries rose by 8.6% between 2011 and 2012, which was a higher rate than the UK economy (0.7%).
The value of services exported by the creative industries was £15.5bn in 2011 – 8% of total UK service exports – and between 2009 and 2011, the value of service exports increased by 16.1%. This compares with an increase of 11.5% for total UK service exports.
Maria Miller, secretary of state for culture, media and sport, said: "These incredible statistics are confirmation that the creative industries consistently punch well above their weight, outperforming all the other main industry sectors, and are a powerhouse within the UK economy.
"We are committed to ensuring that the energy, innovation, skills and talent existing in this dynamic sector continues to translate into economic success, and provide a remarkable platform from which, we can showcase Britain to the world."
Nicola Mendelsohn, chair of the Creative Industries Council, added: "These figures amply demonstrate the huge contribution our sector makes to the economy and it’s vital that the right framework is in place to nurture and support the industry.
"We are working with government on developing a growth strategy for the sector which will identify how all involved can ensure the creative industries continue to go from strength to strength."
Comment below to let us know what you think.
For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine .