Dram-atic growth – Scotch whisky industry celebrates record-breaking year
The world can’t get enough of our national drink, according to new figures released by HMRC
According to new figures, Scotch whisky grew in both volume and value (by 1.6 per cent and 8.9 per cent respectively) in 2017 to a total of £4.36 billion – which is the equivalent of 1.23 bn bottles exported globally.
The results were revealed after the HMRC released its latest export data results which showed that Scotch accounted for more than 20 per cent of all UK food and drink exports.
The total export value of whisky in 2017 was £4.359 bn, which is £356 m more than 2016 and beats the previous record high, £4.273 bn, in 2012. Scotland’s national drink also grew in six out of the top ten export markets for value, and five of the top ten for volume, with the US (value) and France (volume) continuing to lead demand for the product.
The rise of the single malt category continued to gather pace with a 14.2 per cent jump in 2017 to £1.17bn.
Karen Betts, chief executive officer of the Scottish Whisky Association, said: “These encouraging figures show how popular Scotch whisky is right around the world. It’s great to see Scotch continuing to grow in established and new markets.
“With more than 40,000 jobs supported by the Scotch whisky industry across the UK, 7,000 of which are in rural areas in Scotland, it is crucial that we continue to support both the new wave of whisky entrepreneurs and established distillers who are taking Scotch to the world.
“It’s very important to the industry that our global markets remain robust and resilient as the UK navigates Brexit and establishes new trading relationships around the world.
“We have undoubtedly benefited from recent falls in the value of the pound, as have other exporters. But this short-term boost will not distract the industry from working hard to secure the conditions for long-term growth. “
The popularity of the spirit has also seen bigger brands like Pernod Ricard witness strong growth for the first half of the financial year.
Laurent Lacassagne, chairman and CEO of Chivas Brothers, said: “Our Scotch whisky portfolio continues to achieve a solid performance within an increasingly dynamic and competitive industry and we approach the second half of the year with optimism and confidence.”