2012-10-23 17:31

Creative industries boast above-average productivity in Lithuanian economy

The creative industries create 5.4 percent of added value in the Lithuanian economy, and 4.92 percent of all workers work in this sphere, according to a new study presented at the Ministry of Culture on Tuesday.
Akimirka iš „Saulės smūgio“ premjeros
. / Gretos Skaraitienės / BNS nuotr.

"Lower employment rate means higher productivity. It just means that fewer people in this segment of the economy produce more than [the average] in the rest of the economy," Rimantas Juozas Vaicenavičius, director of the Statistical Department of the Bank of Lithuania who led the study, said.

The study also showed that products and services created by the creative industries make 4.68 percent of Lithuania's export and the share is constantly rising.

"The situation is that now we create more for internal consumption but if we look at how the situation changes, then (…) at the end of the studied period, the share of exports is almost equal to the value added share," Vaicenavičius told reporters.

Report mistake
Successfully sent
Thank you