|Jan. 15, 2019 -- Global trade in creative goods is expanding with average export growth rates of more than 7 percent, a new UN report said Monday, noting a "remarkable rise" in China's role in this sector of commerce where it is the No.1 trader.
The UN Conference on Trade and Development (UNCTAD) on Monday released the second edition of the periodic Creative Economy Outlook: Trends in International Trade in Creative Industries here at a press conference.
"China is the biggest single exporter and importer of creative goods and services," said the report.
The report includes profiles for 130 developed and developing countries, and charts "China's remarkable rise in the trade of creative goods."
China accounts for more than one-third of global art sales at auction, said UNCTAD. Its film production is set to soar, and it contributes a significant portion to global trade of design products such as furniture, fashion, and jewelry.
The data covers the period 2002 to 2015 and shows the creative economy's contribution to world trade.
China's trade in creative goods between 2002 and 2015 has been exponential with average annual growth rates of 14 percent.
In 2002, China's trade in creative goods was 32 billion U.S. dollars. By 2014, this figure had increased more than fivefold, tallying 191.4 billion dollars, said UNCTAD.
For the first time, the economic contribution of creative services, not just goods, is also measured at the country level in the report.
"The creative economy has both commercial and cultural worth," said Pamela Coke-Hamilton, who directs UNCTAD's trade division.
"Within the creative economy, the creative industries generate income through trade and intellectual property rights, and create new opportunities, particularly for small and medium-sized enterprises," Coke-Hamilton said.
The creative industries -- including architecture, arts and crafts, marketing and advertising, media and publishing, research and development, software, computer games, and other core creative work -- are the lifeblood of the creative economy.
Design and visual arts are among the highest performing sectors, with fashion, interior design and jewelry accounting for 54 percent of creative goods exports.
"Although the downturn in global trade has impacted all industries, the report shows the creative economy is more resilient than most," said Marisa Henderson, head of UNCTAD's creative economy program.