scotch whisky association swa new york USA export


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.

scotch whisky association swa

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.

scotch whisky association swa

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.

scotch whisky association swa

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.

scotch whisky association swa

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.

scotch whisky association swa

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)

0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.