27 March 2020Download(730.025 KB)
Worldwide exports of creative goods exceeded 500 billion USD in 2015, with a 150% increase since 2002. In the UK, the creative industries have become an increasingly international sector in terms of the intensity of incoming and outgoing flows. As of 2017, exports of creative goods and services accounted for nearly 45% and imports accounted for 26% of the Gross Value Added (GVA) to the UK by the creative industries. This means that the UK’s creative industries make a strong positive net contribution to the UK’s balance of payments.
Ahead of upcoming trade negotiations between the UK and the US, understanding the forces behind these numbers is important. In this report, we draw on official data from the Department for Digital, Culture, Media and Sport (DCMS)and data supplied by other international sources to present facts about the international trade position of the UK’s creative industries. In doing so, we identify issues that need further empirical work.
In the report we assess the international trade and performance of the UK’s creative industries by focusing on 12 key facts:
Please reference this paper as:
Di Novo, S; Fazio, G and Vermeulen, W. (2020) 12 facts about the UK’s international trade in creative goods and services. Various: Creative Industries Policy and Evidence Centre and Newcastle University. Available from: https://www.pec.ac.uk/research-reports/12-facts-about-the-uks-international-trade-in-creative-goods-and-services
Published 27th March 2020
Photo by chuttersnap
This research report is published by the Creative Industries Policy and Evidence Centre (PEC). All PEC research reports have been peer reviewed prior to publication. In keeping with normal academic practice, responsibility for the views expressed in this research, and the interpretation of any evidence presented, lies with the authors. These views and interpretations do not necessarily represent those of the PEC or its partner organisations.