-
Digital sector contributed £149 billion to the UK
economy in 2018
-
Sector accounts for 7.7 per cent of the UK economy as a
whole
-
Growth in the sector is nearly six times larger than
growth across the economy as a whole
New government figures show the country’s thriving digital sector
contributed £149 billion to the UK in 2018, accounting for 7.7
per cent of the UK economy.
This is up 7.9 per cent on the previous year meaning growth in
the sector is nearly six times larger than growth across the
economy as a whole, which increased by 1.4 per cent.
Up until the mid 2010s, the sector had been growing in line with
the wider rate of UK economy growth. But the official figures
show that in 2015 the digital sector’s growth started to outstrip
the economy as a whole and has continued on an upward trajectory
since.
The digital sector figures published today take into account the
contributions of digital businesses up and down the country
across a range of specialisms.
This includes software publishers such as Newcastle-based
software provider Sage, which started small but now has more than
13,000 staff.
Another sub-sector covered in this report is electronic
manufacturers, such as Newport-based IQE, a global leader in the
design and manufacture of products for computer chips tipped to
power everything from electric cars to 5G.
Digital Minister said:
Technology is a sweet spot of our economy, bringing jobs and
wealth across the country.
The success is thanks to our business friendly environment and
fantastic workforce.
We are working hard to continue this momentum by strengthening
regional tech clusters supporting digital businesses and
investing in people’s digital skills.
In total, the Department for Digital Culture Media and Sport
(DCMS) sectors (excluding tourism) contributed £224.1 billion to
the UK in 2018, accounting for 11.7 per cent of the economy as a
whole. Headline figures for additional DCMS sectors include:
The Creative Industries contributed £111.7bn to the UK economy in
2018 - up 7.4 per cent from the previous year, meaning growth in
the sector is more than five times larger than growth across the
economy as a whole.
The Cultural Sector contributed £32.3bn to the UK economy in 2018
- up 2.7 per cent from the previous year.
Read the full DCMS Sectors Economic Estimates 2018 report
