Creative industry contributed P661B to Phl economy in 2010

MANILA, Philippines - The creative or copyright-based industries contributed P661.23 billion to the Philippine economy in 2010, according to the Intellectual Property Office of the Philippines (IPOPHL).

A study conducted by the IPOPHL and the World Intellectual Property Organization this year and presented to the media Thursday showed that the creative industries’ contribution to the country’s gross domestic product (GDP) was estimated at 7.34 percent in 2010.

The latest result is higher than the 4.82 percent contribution of the creative industries to the GDP in the 2006 baseline study.

In terms of employment, the creative industries accounted for 14.14 percent or 560,665 workers in 2010, up compared to its 11 percent contribution to the labor force in 2006.

The study also showed the creative industries accounted for 3.06 perc        ent of total exports and 0.81 percent of total imports in 2010.

Creative or copyright-based industries are those engaged in creation, production and manufacturing, performance, broadcast, communication and exhibition, or distribution and sales of works and other protected subject matter.

The industries include published works of literature, music, motion picture, software, graphic arts as well as advertising services.

IPOPHL director general Ricardo Blancaflor said the latest study shows the potential for growth as well as the need to provide more government support for the creative industries.

“The Philippines enjoys comparative advantage on creative industry. The talent is there,” he said.

But while there is potential to grow and contribute more to the economy, he said there is a need to further promote the sector.

For the IPOPHL’s part, he said the agency would continue to enforce IP rights to protect copyright-based industries.

“It should be on the radar of investors, of businesses,” he added.