Scotch exports decline showing signs of slowing
Trade body the Scotch Whisky Association says encouraging trends are starting to develop in several key markets despite continuing economic headwinds.
These include political uncertainty in some parts of the world, and the impact of a stronger pound sterling in many areas.
The SWA says there are signs of improvement, with a 3% fall in the value of scotch whisky exports in the first six months of 2015 compared to an 11% decline between the first half of 2013 and 2014.
Against these overall falls, premium blends and single malt scotch are becoming ever more popular. Single malt exports were up 5% to £406 million in the first half of this year.
David Frost, Scotch Whisky Association chief executive, said: “We’re starting to see some strong signals for growth and we continue to believe the long-term prospects for scotch whisky remain good.
“This is reflected in the large number of new distilleries opening, with half a dozen starting production in the last year or so.
“The growth of single malt exports shows that premium products are ever more popular. We had a decade of record growth, there was then a decline in exports in recent years largely because of the slowdown in the emerging markets, but signs of improvement are on the horizon.
“We will continue to push for more open access to markets by pressing for the removal of barriers such as high tariffs and unfair levels of taxation. Scotch needs a level playing field, in the UK and overseas, to continue to be a Scottish and British success story.”