HOW FASHION FUELS THE UK ECONOMY
The direct contribution of the UK fashion industry to the UK economy was estimated at £29.7bn in 2016 according to data from Oxford Economics, the consultancy, published by the British Fashion Council.
In the Government's official statistics on the creative industries, published in 2016, by the Department for Culture, Media and Sport, fashion is counted within the category of "design: product, graphic and fashion design".
Using this methodology, the category was estimated to account in 2015 for 132,000 design jobs in the creative industries, and a total of 197,000 category jobs within the wider creative economy (which includes design-related jobs outside the creative industries, such as in manufacturing).
Of all the creative industries measured by the DCMS, the design sector (including fashion design) recorded the fastest job growth rate (29.5 per cent) between 2011 and 2015. This compares to the average job growth rate of 19.6 per cent across the creative economy during that period.
The Gross Value Added (GVA) of the product, graphic and fashion design sectors was estimated at £3.23bn in 2014, an increase of 16.6 per cent over the previous year. This was the biggest percentage increase of any creative industries category during this period.
Between 2008 and 2014, the design category increased GVA by a compound annual growth rate of 9.7 per cent.
EXPORTS of Services
According to data published by the DCMS, exports of services from the product, graphic and fashion design sectors were worth £204m in 2013 - an increase of 7.3 per cent year on year.
Source: Creative Industries Economic Estimates, DCMS, June 2015.