Home Business News Scotch Whiskey exports to the US rise above £1bn

Scotch Whiskey exports to the US rise above £1bn

by LLB Reporter
12th Feb 19 3:28 pm

According to statistics by HM Revenue and Customs, the US has become the first £1bn market for Scotch Whisky as it grew by 7.8% to £4.7bn in total for 2018 whilst US exports rose to £1.04bn.

In 2018 the number of 70cl bottles exported reached record levels and grew to £1.28bn, while the EU accounts for 30% of global value with 36% of global volume.

Karen Betts chief executive of the Whisky Association said, “These figures underscore the strength of the Scotch whisky category, which has continued to grow despite the challenges posed by Brexit and by tensions in the global trading system.

“A key driver for global growth is the growing market for premium spirits.

“Scotch whisky is in a great position to take advantage of this given its unrivalled reputation for quality, authenticity and provenance.”

Adding, “However, the industry does not take continued growth for granted.

“We operate in a competitive global marketplace and so a competitive business environment in Scotland and across the UK is vital to Scotch whisky’s success.

“For Scotch, that means fair and balanced regulation and taxes, including excise duty, to give distillers the confidence to invest in future growth.

“We also want to see the UK and EU agree to an open and positive future relationship, which delivers frictionless trade with the EU, and the UK to secure ambitious trading relationships with key markets around the world.

“In that context, it is important to our industry, as to many others, that the UK does not leave the EU without a deal at the end of March.

“We are urging the government and Parliamentarians to work together constructively and pragmatically to ensure that an agreement is reached as quickly as possible.”

International trade secretary Liam Fox said, “Scotch whisky is, without a doubt, one of Scotland and the UK’s most successful products and with the latest figures showing record export volume and value, the importance of the industry to the UK economy cannot be overstated.

“It’s also telling that the export of Scotch to markets outside the EU has grown rapidly with sales to the USA reaching £1bn for the first time.

“My international economic department is focused on turning the UK into an exporting super power and, as our single largest food and drink export, the success of Scotch whisky overseas is key to this ambition.”

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