Total export revenues from all parts of the UK music industry have been estimated at £2.7bn in 2018, according to the Music by Numbers study from UK Music.
This figure was driven by the global success of British acts including Ed Sheeran, Dua Lipa and Sam Smith.
The recorded sector contributed £478m of export revenue and publishing generated £618m.
Source: Music by Numbers, UK Music.
British artists were responsible for nearly one in four albums sold in Europe during 2015, according to BPI data.
In the six biggest export markets for the UK in Europe, British artists claimed almost one in six album sales during the year.
Almost all (95 per cent) of BPI members produce recorded music and services commercially available in EU markets.
Ninety per cent of respondents to a BPI survey reported that it was important for the UK to have an influence in framing rules that govern the sale or use of British music in Europe.
Some 70 per cent said the EU was either very important or quite important to their future prospects.
Adele led the strong performance by British artists in 2015. But there was also an impressive showing by a broad range of other UK acts, with Coldplay, Ed Sheeran, Mark Ronson, Muse, Sam Smith,One Direction, Mumford & Sons, George Ezra, The Prodigy, Calvin Harris, Steven Wilson, to name a few, as well as heritage acts such as Iron Maiden and Pink Floyd, each experiencing chart success across Europe to underline the strength in depth that the UK currently enjoys.