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 Planes go hybrid-electric in important step to greener flight
- 4 Hip hop is both racial and political, and for Iggy Azalea to suggest otherwise is insulting
- 5 Man hospitalised with pneumonia after downing eggnog at office Christmas party
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Orphan kangaroos spend Christmas without their parents
Northern Lights above Britain: Stunning Aurora Borealis illuminates Northumberland sky on Christmas Eve
New route to Mars could make manned mission much cheaper and easier
Isis 'did not shoot down Jordan war plane' before capturing pilot, says US
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...