The creative economy rose by 6.9 percent in 2023 versus the previous year’s level, according to the Philippine Statistics Authority (PSA).
In a report yesterday, the PSA said the creative economy was valued at P1.72 trillion, contributing 7.1 percent to the country’s gross domestic product.
It increased from the P1.61 trillion recorded value in 2022.
The creative economy is composed of audio and audiovisual media activities; digital interactive goods and service activities; advertising, research and development and other artistic service activities; symbols and images and other related activities; media publishing and printing activities; music, arts and entertainment activities; visual arts activities; traditional cultural expression activities; and art galleries, museums, ballrooms, conventions and trade shows, and related activities.
Of the creative domains, symbols and images and other related activities had the highest share of 31.5 percent or P541.75 billion to the total creative economy in 2023, higher by 2.4 percent than the P529.12 billion value in 2022.
Advertising, research and development and other artistic service activities contributed 21.9 percent, while digital interactive goods and service activities shared 21.1 percent in 2023.
In 2023, there were 7.26 million persons employed in creative industries, which grew by four percent from 6.98 million persons in 2022.
Employment in traditional cultural expression activities recorded the highest share of 35.5 percent in 2023.
This was followed by symbols and images and other related activities, and advertising, research and development and other artistic service activities with 30.3 percent and 17.8 percent, respectively.