Thirsty Asia helps exports of Scotch reach £2bn

EXPORTS of Scotch whisky generated almost £2billion in the first half of this year.

The value of whisky sent overseas rose by 10.8 per cent to £1.97billion amid a surge in demand from the Far East and a thirst for single malts.

HMRC figures published by the Scotch Whisky Association (SWA) also show the volume of exports soared by 5.6 per cent to almost 558million bottles.

Single malts continued to grow in popularity, with exports up 14.4 per cent to £550million in the first six months of 2018. They now make up 28 per cent of the value of all Scotch shipped overseas.

The value of Scotch going to China rose by a third, but the US remains the largest export market by value at more than £400million. France is the largest export market by volume at almost 90million bottles.

Karen Betts, SWA chief executive, welcomed the figures as ‘hugely encouraging’ but added: ‘Right now, £3 in every £4 spent on Scotch in the UK is collected in tax by HM Treasury. The industry believes this tax burden is too high, and is more likely to stifle growth than nurture it.’