Economic analysis of the cultural and creative sectors in Romania in the period 2015-2018

The gross value added is a key indicator of performance, because it shows the contribution of the CCS to the national economy – more precisely, to the Gross Domestic Product (GDP).

The IT sector has the highest share (1.8 of total GVA in 2018), while Architecture, Advertising and TV and radio broadcasting activities contribute together with 1.3 in the national GVA in 2018.

The CCS turnover has continued its ascending trend recorded for the previous periods, on the background of the economic growth at national level and of exploiting the rising trends of the consumption in the country’s population.

In terms of the turnover structure on CCS sub-sectors in 2018, the IT sector stands out by far, with a dominant 41.5% from the total.

The net profit has known a permanent annual growth. While in the period 2011-2015 there was a year when the trend was negative (2012), in the interval 2015-2018 this situation was not repeated. Obviously, this happened on the background of a positive economic context of the national economy. Since 2017, the annual growths of the profit exceeded 30%.

The growth rate of the net profit was higher than the rate of turnover growth. The graph below reflects this. The growth rate is compared to the year 2015. We can see that in 2018 this rate is 214% for the net profit, much higher than the growth rate of the turnover, which is 147%. This is due to the growth of the profitability rates.

The employment within CCS has known a positive evolution, too, with annual growths of the total number4 of employees.