Scotch Whisky trade data £5.4 billion world exports in 2024 amid ‘turbulent’ world buying and selling situations

The Scotch Whisky Affiliation (SWA) has launched world export figures that present the worth of Scotch exports stood at £5.4 billion in 2024. The equal of 1.4 billion 70cl bottles of Scotch Whisky have been exported final yr, equating to 44 per second.

The figures, launched at present, present a lower of three.7% on 2023 exports by worth. The Scotch Whisky Affiliation has referred to as on the UK and Scottish Governments to supply extra assist for the trade as distillers warn that the mix of strain on shopper spending, elevated home tax and regulation, and turbulent world commerce, might proceed to affect exports into 2025.

Exports by quantity have elevated by 3.9%, which the trade says displays the altering developments in world shopper preferences and difficult buying and selling surroundings.

India has regained its place from France because the world’s primary Scotch Whisky export market by quantity, with 192 million bottles exported, whereas the USA retains its long-held place as the biggest export market by worth, price £971 million in 2024.

For the reason that Covid-19 pandemic, annual exports of Scotch Whisky have fluctuated, as world markets went by means of lockdown, reopening and restoration phases. Taking 2019 because the pre-Covid baseline, exports of Scotch Whisky have elevated by 10% in worth, with a 7% improve in quantity.

Nonetheless, the whisky trade has warned that world buying and selling situations stay turbulent at first of 2025 and have referred to as on the UK authorities to do what it will possibly to mitigate rising home pressures on the trade. This consists of decreasing excise obligation on the trade, with 70% of the common priced bottle now collected in tax, rethink the monetary affect of Prolonged Producer Duty (EPR), and speed up commerce talks to cut back tariffs and market entry obstacles in key markets, like India.

Commenting on the export figures, Mark Kent, Chief Govt of the Scotch Whisky Affiliation, mentioned: “Regardless of the resilience of the Scotch Whisky trade, 2024 has been a difficult yr.

“At residence, distillers are being stretched to breaking level, as shoppers bear the brunt of a 14% improve on the tax on each bottle of Scotch Whisky within the final 18 months alone. The cumulative impact of inflationary impacts on enter prices resembling cereals, power and delivery, and the elevated tax and regulatory prices, together with the substantial value of EPR coming later this yr, are being fed by means of to shoppers when they’re tightening their belts.

 “Abroad, the tectonic plates of commerce are shifting, and exports to historically robust markets within the EU and North America have develop into way more difficult. We proceed to assist UK Authorities to advertise robust and open commerce relations with key export markets world wide, and notably to advance negotiations on FTA with India, and interact with the US Administration.  America stays a key marketplace for Scotch, and the place the trade contributes to the US financial system by means of direct funding and jobs.

“However assist for the trade’s world success begins at residence. For too lengthy, the trade has been taken without any consideration, with the misguided and simplistic perception that choices taken in Scotland and the broader UK gained’t affect an trade which exports 90% of its product, helps a big native provide chain and performs a invaluable half in attracting vacationers to Scotland. The Scotch Whisky trade is a confirmed driver of financial development, jobs and funding, and desires an surroundings free from the shackles of extreme taxation, regulation and unsure working prices. The UK authorities should redouble its efforts to again Scotch producers to the hilt, as promised by the Prime Minister.”