I have welcomed the news that the import and export of services from the cultural, digital, and creative sectors have risen steadily since 2010.
New figures published this last week show that digital, creative and cultural businesses are exporting £46.4 billion worth of services worldwide, up from £28.8 billion in 2010 – an increase of over 60 per cent under the Conservatives.
Exports from the digital sector alone are now worth £39.1 billion, up 70 per cent from £23 billion in 2010. This shows that our work to place our digital industry at the forefront of global developments and enable Britain's businesses to take advantage of all the opportunities presented by a changing economy is succeeding.
Commenting, I said:
"Since 2010, we've extended the availability of superfast broadband to over 95 per cent of homes and business, improved mobile 4G coverage across the UK, and provided new tax reliefs for digital businesses. These measures are making it easier for families to use the internet and creating new jobs. The statistics show that our support for businesses is making a real difference, but we know there is more to do. That's why we committed over £1 billion to accelerate the development of next generation digital infrastructure.
"This is good news for businesses as we move into a more digital economy. The cultural, digital and creative industries have a huge role to play in the UK's economy, now making up nearly a fifth of our service exports, and will continue to play a crucial role after Brexit.
"Our modern Industrial Strategy will ensure this continues, as we deliver a highly-skilled and competitive economy that benefits people throughout the UK."
Notes
- The Department of Culture, Media and Sport published their Sectors Economic Estimates 2016: Trade on Wednesday 6 June 2018. The full report is available here.
- It is estimated that in 2016, DCMS Sectors exported £46.4 billion worth of services, accounting for 18.9 per cent of all UK services exports. Table 1, published with the report, shows that the total value of DCMS exports of services was £26.8 billion in 2010 (DCMS, DCMS Sectors Economic Estimates 2016: Trade – Tables 1-6: Exports and imports of services by sector, 6 June 2018, link).
- In 2016, the Digital Sector exported £39.1 billion worth of services to the rest of the world. Table 1 shows that the export of services from the digital sector were worth £23 billion in 2010, and that this value has increased 70.1 per cent between 2010 and 2016 (DCMS, DCMS Sectors Economic Estimates 2016: Trade – Tables 1-6: Exports and imports of services by sector, 6 June 2018, link).
- Superfast broadband at 24 Mbps or faster is now available to 95 per cent of residences. This is more than double the speed Ofcom advise is required by a typical family home (DCMS, 29 January 2018, link; ThinkBroadband, accessed 29 January 2018, link).
- As part of our Digital Strategy we have committed over £1 billion to next-generation digital infrastructure (DCMS, UK Digital Strategy 2017, 1 March 2017, link).
