The worldwide success of acts including One Direction and Adele propelled UK artists' share of total global album sales to a record of more than 13% last year.
The two acts took up three of the top five selling albums globally last year with Rod Stewart, Mumford & Sons, Led Zeppelin, Ed Sheeran and Emeli Sandé also making the top 20.
Adele's 21 topped the global best seller chart for the second year running, the first album to do so, meaning that UK acts have managed to take the title of world's top-selling album for five of the past six years. One Direction had the third and fourth biggest global sellers last year in Up All Night and Take Me Home respectively.
Sales of albums by UK artists accounted for 13.3% of the worldwide total in 2012, up on the 12.6% achieved in 2011 and the highest ever. The UK has now provided the best-selling album worldwide for six of the past seven years.
This effort was praised by David Cameron, who pledged that the government would continue to back the UK's creative industries.
"We should be extremely proud of how our world-leading music industry continues to go from strength to strength," he said, speaking at an event held by music industry body the BPI on Wednesday night. "British music is enjoyed across the world and we will keep backing our creative industries that support jobs, create opportunities and contribute to the economy."
"Music is fundamental to Britain's identity as a nation and the world is singing with us," said the BPI chief executive, Geoff Taylor. "As music goes digital, Britain has the potential to be even more successful, connecting instantly with fans who love our music wherever they may live. The time is right for government to back innovative businesses like music that can lead the economy back to growth."
The BPI said that the popularity of UK acts in the US made for something of an "invasion". One in seven of the albums sold in the US, the world's biggest and most competitive music market, last year was by a British artist.
"British music continues to be global export success story – it puts Britain on the map, culturally and economically, generating jobs both at home and abroad," said the BPI chairman, Tony Wadsworth.
In the UK 52% of all albums sold were by British acts, with Emeli Sandé's debut Our Version of Events the biggest seller of 2012.
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