Belarus’ creative economy hits 5% of GDP

MINSK, 8 April (BelTA) - The core of the creative economy is art, literature, music, advertising, and architecture. According to Belarusian Statistical Committee, the share of creative industries in Belarus already stands at about 5% of GDP. This is an indicator of the development of the service sector and a clear sign of the transition to a knowledge economy, innovation, and intangible assets, Inna Medvedeva, Chairwoman of the National Statistical Committee of Belarus, told the Economy of Belarus magazine.

“The creative economy does not have a single internationally accepted definition. It is an evolving concept - an economic model based on the creation and monetization of unique ideas and creative content. It is an economy based on knowledge and innovation, focused on culture and heritage. In a narrow sense, it covers industries in which independent authors earn income from the products they create.”

To assess the creative economy and its contribution to GDP, the National Statistical Committee initially identified creative industries and types of economic activity. An analysis of the experience of international organizations and other countries shows their great diversity. But the core of the creative economy is art, literature, music, advertising, and architecture.

“Regarding methodological specifics, we can say that the focus is on gross value added by types of economic activity related to creative industries. However, we plan to expand the list of indicators in the future. Creative industries such as design, media, and information technology make a positive contribution to the economy and the formation of human capital: they create jobs, promote the development of small business and tourism, and strengthen cultural ties,” Inna Medvedeva said.

The growing share of the creative economy in GDP is a marker that a country is becoming a “knowledge economy”. If we do not assess this, we will not be able to track how the structural shift is happening and what will sustain us in 10-15 years, Inna Medvedeva stressed.