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Whisky
exports to some key markets down in the
first half of 2014.
While
Scotch Whisky exports to some key
markets, such as France and Taiwan,
increased in the first six months of
2014, the overall trend was downwards
with economic headwinds and uncertainty
having an impact.
Figures published this week by the
Scotch Whisky Association (SWA) show
that exports of Scotch in the first half
of the year were £1.77 billion, down 11%
from £1.99bn in the same period of 2013.
Following a decade of fast growth, the
demand for Scotch is levelling off in
some markets. However, there is
confidence in the long-term future of
Scotch, with many projects for new
distilleries under way, and up to £2bn
of capital investment in Scotland
committed by producers.
Top 20 Scotch Whisky Export Markets By
Value Year To Date To End Of June 2014
| |
JAN-JUN 2014 |
JAN-JUN 2013 |
% change |
| USA |
£327.7million |
£391m |
-16% |
| France |
£210.7m |
£198.8m |
6% |
| Singapore |
£94m |
£173.8m |
-46% |
| Taiwan |
£91m |
£65.4m |
39% |
| Spain |
£78.5m |
£81.8m |
-4% |
| Germany |
£65.2m |
£83.4m |
-22% |
| South Africa |
£58.7m |
£65m |
-10% |
| UAE |
£54m |
£42.8m |
26% |
| South Korea |
£52.5m |
£59.6m |
-12% |
| Brazil |
£40.1m |
£49.4m |
-19% |
| Mexico |
£39m |
£53m |
-27% |
| Australia |
£37.4m |
£36m |
4% |
| India |
£36.1m |
£27.6m |
31% |
| Japan |
£32.5m |
£27.5m |
18% |
| Panama |
£30.9m |
£31.2m |
-1% |
| Canada |
£29.6m |
£28.4m |
5% |
| Netherlands |
£28m |
£27m |
3% |
| Turkey |
£25.1m |
£23.7m |
6% |
| Lebanon |
£22.9m |
£18.1m |
26% |
| Latvia |
£22.8m |
£33.5m |
-32% |
There is still increasing demand for
Scotch in many markets. Exports to
France grew by 3% to 86 million bottles,
making it the biggest market by volume,
and by 6% to £211m to put it in second
place, behind the USA, in terms of
value. Exports to the United Arab
Emirates (UAE) were up 26% to £54m, with
that area acting as a distribution hub
for parts of Africa, Asia and India.
Australia was up 4% to £37m. Growth of
31% in the difficult Indian market is
particularly welcome and shows the
potential opportunities there. There was
growth in several other top 20 markets,
notably Taiwan, Canada and Japan.
But there was decline in many major
markets in Asia and the Americas, for
example China, Singapore, the US, Brazil
and Mexico. This was due to a mixture of
reasons: the well-documented
anti-extravagance measures in China,
economic slowdown in some markets, a
stronger pound sterling and de-stocking.
But in all these markets the whisky
category remains popular and the
long-term prospects are good.
David Frost, Scotch Whisky Association
chief executive, said: "We are confident
that Scotch Whisky will continue to grow
in the long-term as markets stabilise
and new ones, such as emerging economies
across Africa, open up. However, it is
clear that in the short-run that there
are economic headwinds affecting
exports.
"The latest figures also act as a
reminder that the success of Scotch
Whisky can't be taken for granted. We
need support from government to beat
down trade barriers and help us access
new markets overseas.
"That is why we are determined to play a
full part in the forthcoming debate
about further devolution, so that it
enables a supportive business
environment to ensure the future success
of Scotch Whisky."
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