Scotch Whisky Exports Showing The Way Out Of Recession
08 Dec 2009
Global shipments grew by 1.5 per cent compared to 2008, despite
recession, according to the export figures (January-September 2009)
published by The Scotch Whisky Association (SWA).
Values were 3.5 per cent down on the previous industry record in
2008, reaching £2.11 billion - the industry's second best export
value performance at the end of September.
The SWA reported that despite weak economic conditions and trade
de-stocking, which impacted exports in the first quarter of the
year, the industry remained confident of future growth as
international conditions improve.
Gavin Hewitt, SWA Chief Executive, said:
"After a tough first quarter, Scotch Whisky exports have
performed well so far in 2009. We look forward to a good last
quarter with the important Christmas and New Year period now in
"Distillers have been resilient through the recession, investing
for future opportunities and underscoring Scotch Whisky's
increasing importance to the domestic economy. Scotch Whisky
exports - which already represent 20 per cent of Scotland's
manufactured exports - are showing the way in bringing the Scottish
economy out of recession."
The SWA reported that the international spread of Scotch Whisky
export markets helped to mitigate the impact of weaker economic
conditions in certain countries.
Within the top ten markets, the value of exports to France,
South Africa, and Venezuela increased. Shipment value to the United
States, Spain and South Korea was lower.
The UK market continued to struggle with releases from bond down
11 per cent, raising further questions over the need for, and
impact of, minimum pricing in Scotland.
The SWA pointed to the negative impact of trade barriers being
introduced against Scotch Whisky overseas on the back of a Scottish
precedent if minimum pricing was introduced in Scotland.