New markets save Scotch from impact of austerity
Scotch whisky exports hit a record £4.3bn last year, although sales were up only 1 per cent as widespread austerity took its toll on the bottom line.
Exports of the tipple have jumped by 87 per cent in the past decade and now account for 80 per cent of Scotland's food and drink exports by value, as well as a quarter of the UK's.
Scotch whisky exports have been boosted by emerging markets such as Russia, Taiwan and China as well as a return of confidence in major traditional customers such as the US, the biggest consumer, which spent £758m on imports.
Gavin Hewitt, the chief executive of the Scotch Whisky Association, said: "A combination of successful trade negotiations … growing demand from mature markets, particularly the USA, and the growing middle class in emerging economies helped exports."
Despite a 25 per cent drop last year, France remains the biggest market by volume, buying 153.9 million standard 700ml bottles.
Exports to China jumped 8 per cent last year, although the country remains a relatively small consumer at 22.9 million bottles. China's consumption is a whisker ahead of Taiwan's by volume, although its population of 1.3 billion dwarfs Taiwan's 23 million.
Mr Hewitt said growth was expected to continue for the foreseeable future.
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 3 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 4 Ball pool for adults opens in London
- 5 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Boris Johnson claims porn-obsessed Islamic jihadists are 'literally w*****s'
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Ball pool for adults opens in London
Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...