Angels’ share of rising whisky exports from single malts

0 SWA called for tax on an average bottle of Scotch whisky to be cut from 80 per cent Whisky exports increased in value by 3.4 per cent in the first half of the year to £1.8 billion, according to analysis by the Scotch Whisky Association (SWA).

This was boosted by the continuing growth in popularity of single malts across the globe, including the US – the industry’s largest market.

Analysis of HMRC figures by the SWA shows consumers are continuing to sample more single malts.

Exports were up 7 per cent to £479 million in the first six months of the year with the drinks category now making up more than a quarter of the value of all Scotch shipped overseas.

Karen Betts, SWA chief executive, said: “The value of Scotch Whisky exports was up more than 3 per cent in the first half of this year to £1.8bn, which is great news.

“More and more consumers around the world are seeking out the fabulous range of single malts.

“It is good to see demand for Scotch increasing in a diverse range of mature and emerging markets around the world.”

This fondness for malt whisky was clear in the US, where total Scotch exports were up 8.6 per cent to £388m and single malts jumped 14 per cent to £123m.

The SWA said there was a marked return to growth in China, up 45 per cent to £27m as the country’s economy expands, while exports to Japan rose 19 per cent to a value of £43m.

The EU remains the biggest regional destination for Scotch, with the value of exports up 4 per cent to £559m.

Overall, the volume of Scotch whisky shipped overseas was down 2 per cent to 528 million bottles and this was in the context of relatively favourable exchange rates.

The lower volume and higher value is partly as result of the shift to single malts.

Some markets declined in the face of continuing economic and political headwinds, such as Brazil where the value of Scotch exports fell 20 per cent to £22m.

The SWA argues that a strong home market is required to underpin the industry’s global success and that Chancellor Philip Hammond could help next month by cutting tax on an average bottle of Scotch from 80 per cent.

A fairer domestic excise regime, it says, would help boost a world-famous industry which supports 40,000 jobs across the UK.