BANGKOK: Scotland’s biggest export brand, Scotch whisky, suffered a drop of more than £300 million in the value of exports last year. Weaker economic conditions and political volatility in somemarkets saw the value of Scotch exports decline by seven per cent to £3.95billion last year from £4.26bn in 2014, according to new figures published yesterday. The number of bottles exported was also down slightly bythree per cent to 1.19bn 70cl bottles.
The Scotch Whisky Association (SWA) promptly called on the European Union and the next UK government, no matter the political complexion, to continue to press the case for more open markets and to pursue ambitious free trade agreements.
The free trade agreements in place have already helped to boost growth in Scotch exports with the total value of exports up 74 per centsince 2004 and single malt exports up 159 per cent. According to the SWA, the overall picture, following several years of record-breaking growth, was consolidation in many developed market sand underlying strong growth in most emerging markets. Growth was seen in a range of important markets, such as Taiwan where exports jumped 36 per cent to £197 million, partly on the back ofthe growing popularity of single malt Scotch. Exports to India were up 29 percent to £89m, despite the 150 per cent import tariff.
Exports to the USA, the biggest market for Scotch, fell nineper cent by value to £748m, but exports to France and Spain were up. There wasa mixed picture in emerging markets, partly as a result of political andeconomic volatility.
Exports by volume to Mexico grew five per cent to 42.8mbottles, while value fell by 10 per cent in that market. There was a similartrend in Brazil, with volumes flat but value down 20 per cent.The important hub market of the United Arab Emiratescontinues to boom, with exports up 27 per cent by value.
