FDBusiness.com

Scotch whisky exports hit a record £4.3 billion in 2012, an increase of 87% in the last 10 years. Rising demand for Scotch whisky from both mature and emerging markets saw the value of exports grow for the eighth consecutive year. Scotch whisky leads the way for British food and drink in overseas markets – forming about 80% of Scottish food and drink exports and a quarter of UK food and drink exports.

Defying continuing global economic pressures, the total value of Scotch whisky exports grew by 1% last year to reach £4.27 billion. Scotch whisky is now worth £135 a second to the UK balance of trade.

Falling sales in Southern Europe were more than matched by growing exports elsewhere. The French market was distorted by excise tax increases in 2012 which led to a “stocking up” of Scotch whisky in 2011 before their introduction.

Gavin Hewitt, chief executive of the Scotch Whisky Association.

With increasing consumer knowledge of Scotch whisky around the world, demand grew for single malt and premium blended Scotch whisky. Single malt exports have risen over the last 10 years by 190% from £268 million to £778 million.

The USA remains the top market by value for Scotch whisky with exports breaking through the £700 million barrier for the first time to reach £758 million in 2012. Demand from the USA is expected to increase as consumer confidence grows and many people trade up to premium brands.

Gavin Hewitt, chief executive of the Scotch Whisky Association, says: “Scotch whisky continues to lead the way for UK food and drink exports. A combination of successful trade negotiations, excellent marketing by producers, growing demand from mature markets, particularly the USA, and the growing middle class in emerging economies helped exports hit a record £4.3 billion last year. We deliver a remarkable £135 a second to the UK balance of trade. We are contributing massively to the government’s wish for an export-led recovery.”