SCOTLAND – The Scotch Whisky Association (SWA) has reported that the global export value of Scotch whisky reached US$6.05 billion in 2023 revealing a marginal decrease compared to the exceptional figures of 2022, described by the industry as a “bumper” year.
While 2023 figures show a dip in both volume and value compared to the previous year, they represent a more normalized state of global exports, with a robust growth of 14 percent in value and a 3 percent increase in volume compared to the pre-pandemic numbers of 2019.
Despite these positive indicators, whisky leaders have cautioned that 2023 posed significant challenges for the sector both domestically and in key markets, emphasizing the need for concrete government support to sustain and foster longer-term growth.
Asia-Pacific continued to be the dominant market for Scotch Whisky in 2023, with China leading the way with a remarkable 165 percent increase in value compared to 2019.
According to SWA, premiumization of Scotch Whisky remains a key driver in this region, particularly in markets like China and Singapore, where single malt Scotch Whisky has witnessed double-digit growth.
Europe retained its status as a crucial export region for Scotch Whisky, with France regaining its position as the largest volume market.
However, India saw a decline in both volume and value exports compared to 2022, highlighting ongoing trade negotiations and the industry’s push for a trade agreement that would reduce the 150 percent tariff on Scotch imports into India.
In the United States, Scotch Whisky’s largest market by value, there was a sector-wide decrease of 7 percent in exports compared to 2022 and an 8.5 percent decline from 2019, reflecting global economic conditions and increased living costs for consumers. The US remains a dynamic and competitive market for whisky and spirits.
Mark Kent, Chief Executive of the Scotch Whisky Association, acknowledged the resilience of the industry in the face of challenges, stating, “Scotch Whisky has once again shown its export strength despite significant challenges across a volatile global trading environment.”
He emphasized the importance of government support, including a potential cut to spirits duty in the spring budget, to bolster the industry’s platform for international growth.
Kent also underscored the need to reject any restrictions on the marketing of Scotch Whisky in Scotland, as such measures could have a lasting impact on the industry’s ability to generate future growth.
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