Blog
Creative contributions to the trade balance
6th April 2009
Did you know that Britain is the biggest exporter of creative products in the world economy? From the rights to show innovative TV shows to the income generated from the tours of live groups and orchestras and the royalties from authors such as JK Rowling, our creative industries now generate a very healthy annual surplus for the current account of the balance of payments. This short article in today’s Independent reinforces the point. ‘British musical talent earned 15 per cent more in royalties from abroad during the 12 months to the end of December, according to PRS for Music, which collects royalties for songwriters and composers.’ More here
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.