Global Scotch Exports Slip Markedly As U.S., China Show Double-Digit DeclinesSeptember 24, 2014
While the Scotch whisky industry got a lift from Scotland’s recent vote to remain a part of the U.K., the category saw its largest export decline in 15 years over the first half of 2014, blamed on economic headwinds, government austerity in China and a stronger British pound. According to the Scotch Whisky Association, exports fell 11% to £1.77 billion in the six months through June.
Major markets like the U.S. (-16% to £328 million/$538m), Germany (-22%), South Africa (-10%), Brazil (-19%), South Korea (-12%) and Mexico (-27%) all saw double-digit shipment declines. So did China (-35%) and a key re-exporter to the Chinese market, Singapore (-46%).
Still, a host of key markets enjoyed solid growth—such as France (+6%), Taiwan (+39%), United Arab Emirates (+26%), India (+31%), Australia (+4%) and Japan (+18%).Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.