|12-02-2018||By Nokulunga Msibi|
Data from HM Revenue and Customs revealed that Scotch exports hit a new record high of £4.36bn, up 9% from 2016. The volume exported also increased by 1.9%. The previous high for export value was £4.273bn in 2012.
France still leads the world in Scotch consumption with 17m bottles exported in 2017, a 5.9% increase from 2016. Latvia’s import of Scotch whisky hit a high of more than 74% growth. The top 10 largest export destinations for Scotch in the world defined by volume in 2017 were:
Karen Betts, CEO of the Scotch Whisky Association (SWA) said "These encouraging figures show how popular Scotch whisky is right around the world”. She mentioned that this is a result weaker pound.
Casks with Maturing Whisky at Tomatin Distillery
In terms of value, Taiwan showed a decrease in Scotch exports with £160m, down by -8.3% from 2016. All other major export markets showed growth including the US, France, Singapore, Germany and Spain. Exports to Latvia more than doubled in 2017 with 105% increase. The top 10 largest export destinations for Scotch in the world defined by value in 2017 were:
The world’s interest in Scotch and single maltsis evident particlualry with distillery expansions such as Glenmorangie adding a new still house that will allow them to increase capacity to meet increasing global demand. Scotch Whisky is also sold in around 200 markets worldwide, accounting for over 20% of all UK food and drinks exports.