The report looks at the current state of the creative economy. It examines the evolving definition of the creative economy and its contribution to sustainable development. Based on a 2021 UNCTAD survey, the report shows how countries govern and promote their creative economies and what national strategies and policies they have implemented. The report looks at the latest data on international trade in creative goods and services and finds that trade in creative goods and services generates increasing revenues for countries, with services having a dominant role. The report presents different measurement frameworks for the creative economy, discusses measurement and data challenges, and presents case studies from developing countries. It also discusses how new and emerging technologies, especially increasing digitalization since the COVID-19 pandemic, contribute to fundamentally changing creative industries. As requested by the General Assembly resolution 74/198, the report includes a special section on implementing the International Year of Creative Economy and how it advances the 2030 Agenda. The report notes that the concept and definition of the creative economy are diverse, representing countries' cultural diversity, but also due to different economic structures, statistical methodologies, and classification used. It encourages governments to recognize the importance of the creative economy by conceptualizing it based on existing definitions and classifications. The report highlights the importance for countries to map and measure the creative economy and industries, including their contribution to international trade.