UK exports £6.9bn of advertising services
Exports of advertising services from the UK grew 18 per cent to £6.9bn in 2017, reporing much faster growth than the 7 per cent rise in the value of the UK's overall service exports during the same period.
The figures, collated by the Office for National Statistics and published in an Advertising Association report, confirmed that UK advertising runs the largest trade surplus in Europe - some £3.8bn - and the total value of UK advertising services exports has more than doubled from £2.4bn in 2009.
The UK advertising industry is highly competitive on the global stage - for instance, winning more awards per capita at the Cannes Lions International Festival of Creativity since 2005 than any other country.
A recent survey by Credos, the UK advertising industry's think tank, found that 90 per cent of UK advertising businesses generate income from international markets, and overseas clients accounted for nearly a third of the total revenue at the companies surveyed.
Launching the organisation's report, AA Chief Executive Stephen Woodford said: "This is just the beginning of what our sector, a proud member of the UK's world class creative industries, is capable of. The future of exporting our sector's, indeed UK creativity, around the world is in our hands."
The report was published as part of Export Month, an advertising initiative encompassing industry activities in China, Japan and the UK.
To request a copy of the report, contact firstname.lastname@example.org
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