The report released yesterday by the Department of Culture, Media and Sport revealed that the sector had grown by 8.9 per cent in 2014 – almost double the rate of the economy overall.
It also stated that the creative industries generate £9.6 million per hour, a rise of £800,000 from the previous year.
"The creative industries are one of the UK's greatest success stories, with British musicians, artists, fashion brands and films immediately recognisable in nations across the globe," said minister for culture Ed Vaizey.
"Growing at almost twice the rate of the wider economy and worth a staggering £84 billion a year, our creative industries are well and truly thriving and we are determined to ensure its continued growth and success."
The increase has been attributed to the success of British films, music, video games, crafts and publishing.
The "creative industries" are also defined by areas including advertising, marketing, architecture, product design, graphic design and fashion design.
They encompass TV, video, radio, photography, IT, software, computer services and publishing, as well as museums, galleries, libraries, performing arts and visual arts.
In a statement, the government said it "continues to create the right environment for creative industries to thrive, through tax reliefs, inward investment, and safeguarding music and cultural education programmes".
Not everyone sees this to be the case. Last year a string of designers spoke out about problems faced by creatives in the UK. Design duo Barber and Osgerby said that the UK government "doesn't value the role of creativity", and that London's position as a leading creative city is under threat thanks to rent rises and arts education funding cuts.
However, findings that have since emerged show that Londoners working in the creative industry have an almost 20 per cent higher average hourly salary compared to those in non-creative jobs. The city's mayor Boris Johnson has also asked planners and developers to prioritise culture as well as housing.