Scotch whisky exports hit a new high last year, as leading market the US bounced back from its tariff-induced hiccup and India almost doubled its shipments by value.
Figures released by the Scotch Whisky Association today saw the US – the category’s largest market – restore its GBP1bn+ status in 2022 after a tough couple of years. The impact of tariffs on single malt Scotch as part of the trade row between the EU and the US was keenly felt in 2020 and 2021: Exports to the country last year hit GBP1.05bn [US$1.27bn], just behind 2019’s GBP1.06bn.
Overall, shipments totalled GBP6.2bn, a 37% leap on 2021.
While all of Scotch's ten largest export markets registered growth, India stood out, jumping 93% in value terms, despite the country's 150% rate of import duty on international spirits. The trade organisation took the opportunity to push for a free trade agreement between the UK and India, which could "allow for an additional GBP1bn of growth [from the country] over the next five years".
On the volumes side, India overtook France to become the largest export market, reaching just over 17m nine-litre cases. Highlighting the future potential, the SWA noted: "India is the largest whisky/whiskey market in the world but Scotch whisky has just a 2% share of the Indian whisky market."
Exports in volume terms rose 21% versus 2021 to the equivalent of almost 130m cases.
According to data from the Distilled Spirits Council of the United States, also published this week, blended Scotch imports into the US were up 4.6% last year in value on flat volumes, while single malt rose 3.8% value-wise as volumes declined.
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