Creative economy report : 2018 update economic policy department

Abstract

This report updates the Culture and Creative Industry Report published in January 2018 by the Economic Policy Department and contains an update of the economic evaluation. This update is based on recent national accounts data and closely follows the earlier report including the adjustment to exclude the impact of the printing of currency included in the national accounts data. This adjustment has been carried out outside the realm of national accounts as produced by NSO and utilising data from the financial statements of companies operating in this sector. In the absence of financial data for the last three quarters of 2016, estimates of the currency printing sub-industry were based on the performance of these companies on the international market as portrayed by published financial statements. Due to this limitation, data for the printing and publishing sub-sector is to be considered highly provisional. In 2017, CCIs over this period have outperformed the rest of the economy and increased by 12.2%. As a result, the share of the CCIs in the total economy increased by 0.2% points to reach 7.9% of total gross value added and 6.5% of gainful employment. The positive performance supported the growth in employment, productivity and profit margins.