New government figures show the country’s thriving digital sector contributed £149 billion to the UK in 2018, accounting for 7.7 percent of the UK economy. Tech sector worth more than £400 million
This is up 7.9 percent on the previous year meaning growth in the sector is nearly six times larger than growth across the economy as a whole, which increased by 1.4 percent. Tech sector worth more than £400 million
Up until the mid-2010s, the sector had been growing in line with the wider rate of UK economic growth. But the official figures show that in 2015 the digital sector’s growth started to outstrip the economy as a whole and has continued on an upward trajectory since.
The digital sector figures published today take into account the contributions of digital businesses up and down the country across a range of specialisms.
This includes software publishers such as Newcastle-based software provider Sage, which started small but now has more than 13,000 staff.
Another sub-sector covered in this report is electronic manufacturers, such as Newport-based IQE, a global leader in the design and manufacture of products for computer chips tipped to power everything from electric cars to 5G.
In total, the Department for Digital Culture Media and Sport (DCMS) sectors (excluding tourism) contributed £224.1 billion to the UK in 2018, accounting for 11.7 percent of the economy as a whole. Headline figures for additional DCMS sectors include: Tech sector worth more than £400 million
The Creative Industries contributed £111.7bn to the UK economy in 2018 – up 7.4 percent from the previous year, meaning growth in the sector is more than five times larger than growth across the economy as a whole.
The Cultural Sector contributed £32.3bn to the UK economy in 2018 – up 2.7 percent from the previous year.