The latest global export figures released by the Scotch Whisky Association (SWA) show a decrease on 2022 exports for both volume and value, which the industry says was a “bumper” year for exports as global markets reopened and restocked following the pandemic, as well as the full reopening of global travel retail.
The 2023 figures represent a more normalised depiction of the current state of global exports, with robust growth on pre-pandemic numbers. Exports of Scotch Whisky have risen by 14% in value compared to 2019, with a 3% increase in volume. However, whisky bosses have also warned that 2023 posed “significant” challenges for the sector both at home and in a number of key markets, warning that maintaining these numbers without more concrete government support in the coming year could hamper longer term growth.
As in 2022, Asia-Pacific continued to dominate as Scotch Whisky’s largest regional market by value in 2023, supported record value exports to China, a market up 165% on 2019, and value uplifts Singapore (19%) and Taiwan (8%). Premiumisation of Scotch Whisky remains a driver in these key markets: single malt Scotch Whisky continued to rise in popularity among a growing cohort of consumers, with double digit growth in China and Singapore on 2022.
Europe remained a key export region for Scotch Whisky for both volume and value, with France once again becoming the industry’s largest volume market – a position briefly held by India in 2022. Exports to India fell in volume and value compared to 2022, the fall coming against a backdrop of ongoing UK-India FTA talks and the Scotch Whisky industry’s calls for a trade agreement which lowers the 150% tariff on Scotch imports into India, which would lead to significant export growth to the market.
The United States, which has long been Scotch Whisky’s biggest market by value, saw a sector-wide fall in exports of 7% compared to 2022, and 8.5% on 2019, to £978m. Industry figures say that these numbers are reflective of global economic conditions and rising living costs for consumers in the US, which remains a dynamic, competitive market for whisky, and the wider spirits category. Last year saw companies manage stock levels within market following restocking in 2022, and the industry expects the short-term export dip to realign over the course of 2024. However, the SWA has also warned that 2024 marks a halfway point for the five year removal of tariffs on single malt Scotch Whisky which were imposed in 2019, and has urged the UK government to press for longer-term tariff-free trade for Scotch in its talks with the US administration.
The export figures come a month on from the industry’s latest economic impact report, which showed that the contribution of the Scotch Whisky sector to the UK economy has reached £7.1bn annually, supporting 66,000 jobs across the UK.
Summary
- Scotch Whisky exports were valued at £5.6bn in 2023, with 1.35bn bottles exported, equating to 43 bottles per second.
- The value of exports are down by 9.5% on 2022, but up 14% on pre-pandemic levels (2019). By volume, exports are down 19% on 2022, but up 3% on 2019 figures.
- Exports of Single Malt Scotch Whisky topped £2bn for the first time.
- Asia Pacific was the most valuable export region with exports worth £1.8bn, down by 1.4% on 2022, but up 45% on 2019.
- The US market, historically Scotch Whisky’s first £1bn market, dropped to £978m in export value for 2023, with 127m bottles exported. Value figures are down by 7% on 2022, and 8.5% on 2019; volume has fallen by 7% compared to 2022, and remains steady compared to 2019.
- India, Scotch Whisky’s priority growth market, had export value of £278m in 2023, down by 22% on 2022 but up by 31% on 2019. The equivalent of 167m bottles were exported to India in 2023, down by 24% on 2022, but up by 27% on 2019.
- The 2023 figures, which show a decrease on 2022 export numbers, demonstrate a more normalised depiction of year on year exports for Scotch Whisky, with figures up on pre-pandemic exports for volume and value. However, the industry is seeing a global cost of living crisis impact consumers in markets around the world, as well as stock management in-market, both of which accounted for a drop in exports.
Top 10 Markets
The largest export destinations for Scotch Whisky (defined by value) in 2023 (vs 2022) were:
USA: £978mm -7% (£ 1,053m in 2022) -9% on 2019 (£1.07bn)
France: £474m -3% (£ 488m in 2022) +10% on 2019 (£432m)
Singapore: £378m +19% (£316m in 2022) +26% on 2019 (£300m)
Taiwan: £341m +8.3% (£315m in 2022) +65% on 2019 (£205m)
China: £235m +1% (£233m in 2022) +165% on 2019 (£89m)
India £218m -22.5% (£282m in 2022) +31% on 2019 (£166m)
Germany: £197m -2% (£202m in 2022) +7% on 2019 (£185m)
Spain: £184m +7% (£173m in 2022) +2% on 2019 (£180m)
Japan: £170m -3% (£175m in 2022) +16% on 2019 (£147m)
Türkiye: £131m +24% (£99m in 2022) +178% on 2019 (£47m)
The largest export destinations for Scotch Whisky (defined by volume, 70cl bottles equivalent) in 2022 were:
France: 174m bottles -15% (205m bottles in 2022) +4% on 2019 (173m bottles)
India: 167m bottles -24% (219m bottles in 2022) +28% on 2019 (131m bottles)
USA: 127m bottles -7% (137m bottles in 2022) +0.04% on 2019 (173m bottles)
Japan: 60m bottles -20% (75m bottles in 2022) -1% on 2019 (60m bottles)
Germany: 59m bottles -12% (67m bottles in 2022) +20% on 2019 (50m bottles)
Spain: 58m bottles -14% (67m bottles in 2022) +2% on 2019 (57m bottles)
Poland: 45m bottles -6% (49m bottles in 2022) +39% on 2019 (33m bottles)
Brazil: 43m bottles -54% (93m bottles in 2022) -1% on 2019 (43m bottles)
Türkiye: 41m bottles +31% (£31m bottles in 2022) +177% on 2019 (15m bottles)
Mexico: 34m bottles -30% (£31m bottles in 2022) -34% on 2019 (51m bottles)
Regional data
In 2023, Scotch Whisky exports by global region (defined by value) were:
Asia Pacific: £1.8bn -1.4% vs 2022 (32% of global exports)
European Union: £1.6bn -2% vs 2022 (28% of global exports)
North America: £1.2bn -10% vs 2022 (21% of global exports)
Central and South America: £408m -45% vs 2022 (7% of global exports)
Middle East and North Africa: £267m -18% vs 2022 (5% of global exports)
Western Europe (ex EU): £167m +14% vs 2022 (3% of global exports)
Sub-Saharan Africa: £162m -21% vs 2022 (3% of global exports)
Eastern Europe (ex.EU): £42m +9% vs 2022 (1% of global exports)
Category data
In 2023, Scotch Whisky exports by category (defined by value) were:
Bottled Blend £3.1bn -16% vs 2022 (55% of global exports)
Single Malt £2.02bn +2% vs 2022 (36% of global exports)
Bulk Blend £173m -9% vs 2022 (3% of global exports)
Bottled Blended Malt £138m -1% vs 2022 (2% of global exports)
Bulk Blended Malt £117m -10% vs 2022 (2% of global exports)
Bulk Single & Blended Grain £54m -8% vs 2022 (1% of global exports)
Bottled Single & Blended Grain £26m +34% vs 2022 (0.5% of global exports)
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