Top 10 Scotch whisky markets by value

It’s been a rocky few years for the Scotch whisky industry, with exports declining across many of its major markets, but is finally showing signs of recovery.

enhanced-26347-1429190536-12Earlier this week the Scotch Whisky Association released analysis which showed the decline in Scotch exports was now “slowing”, suggesting a more optimistic future for the category.

In 2015, the value of Scotch whisky exports reached £3.86 billion, representing a decline of 2.4% from £3.95bn in 2014. This compared to a 7% decline from 2013 to 2014, indicating a slowing decline, and puts the total value of exports at 56% higher than a decade ago.

The volume of Scotch exports was down by 2.8% in 2015 to 1.16 billion bottles, from 1.19bn in 2014.

“The last decade has been a period of very strong growth up until 2013,” the report said. “Following that, there has been a limited slowdown due to global instability, market conditions in certain countries, an exchange rate fluctuations. While challenges remain, growth is returning in more mature markets while emerging markets still provide good potential. In short, prospects for growth remain strong but the industry continues to face challenging global economic conditions.”

The biggest declines of Scotch exports by value were seen in Brazil (-30%), Latvia (-33%), South Korea (-15%) and South Africa (-10%).

Strong performers included the US, which maintained an export value of £749 million, accounting for nearly a fifth of all Scotch exports.

Other strong performers included Japan, which saw the value of Scotch exports rise by 18% to £76m. Mexico increased its value by 17% to £115m, Turkey up 24% to almost £53m and China returned to the top 20 markets with an increase of 5% to £41m. Further growth was seen in the Netherlands, which saw the value of exports increase by 30% to £74m, and Poland where exports increased to £53m – a 20% increase.

With this in mind, we have compiled a rundown of the world’s top 10 biggest markets for Scotch…

[Date source: SWA Scotch Whisky Exports Review 2015)

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