SWA Economist, Kathrin Furst, explains how the SWA collects and analyses the export figures.

KEY MARKETS

Here are some examples of markets where the SWA and our member companies work to improve access to the market for Scotch Whisky.

Asia-Pacific

As in 2023, Asia-Pacific continued as Scotch Whisky’s largest regional market by value in 2024, supported by value uplifts in India (13.8%) and Japan (7.1%) on 2023 figures. Driven by increases in Bulk Blended Malt and Bulk Single & Blended Grain whisky, the region saw overall value of exports decrease by 12.4% on 2023, while volume increased 6% to 419m 70cl bottles. 

India once again became the industry’s largest volume market – a position briefly taken from France in 2022. Exports to India increased in volume and value compared to 2023,  as UK-India FTA talks continued. The Scotch Whisky industry’s calls for the trade agreement have included a lowering of the 150% tariff on Scotch imports into India, which would lead to significant export growth to the market. 

Learn more about the Indian market here.

North America

The United States, which has long been Scotch Whisky’s biggest market by value, maintained its position despite economic headwinds. Export value held steady, while exports volume saw a slight uplift on 2023, to 132m bottles. Industry leaders note that these figures are reflective the challenging economic conditions in the market, with inflation leading to consumers reluctant to spend on non-essential items. A slight decline in the Single Malt category has been observed, as the industry continues to feel the impact of the 25% tariff imposed between October 2019 and March 2021, which resulted in £600 million in lost exports. 

2024 marked a halfway point for the five year suspension of tariffs on Single Malt Scotch Whisky set to end in 2026. The SWA continues to encourage the UK and US administrations to work together to resolve the underlying trade disputes and secure the long-term stability and growth of the Scotch Whisky industry in this global top market. 

Other markets in the North America region saw declines by value, with exports by volume to Canada remaining flat and declining in Mexico.  

Central & South America

Latin America and the Caribbean saw significant growth when compared to other global markets, with an increase on 2023 for both volume and value. Geographical Indication status was confirmed for Scotch Whisky in Brazil in early 2024, giving millions of Brazilians confidence in the quality and provenance of what they’re buying. In the market, the industry saw an uplift of 22.8% for volume in 2024, attributed to an increase in bottled blended Scotch whisky exports. 

Download the 2024 Scotch Whisky export infographic here