Scottish whisky exports took a significant hit in the first half of 2024, with a drop of 18% in value compared to the same period last year. According to the Scotch Whisky Association (SWA), the export value fell to £2.1 billion (2.49 billion euros). This decline is largely attributed to the 25% tariffs imposed by the US, the most important market for Scottish whisky, and broader global economic challenges.
Key Market Insights
The United States remains the largest export market, accounting for roughly one-fifth of total whisky export value. However, American import tariffs have weighed heavily on the industry, with a 3.5% decrease in exports to £421.4 million. Despite the challenges in the US, India has seen a surge in demand, with exports rising 12%, making it the largest market in terms of volume.
Industry Appeal for Government Support
SWA’s Chief Executive, Mark Kent, has called on UK Prime Minister Keir Starmer to support the industry, particularly through reducing alcohol duties and pushing for a free trade agreement with India. These measures are seen as critical for mitigating short-term fluctuations and boosting long-term growth.
Export Figures Overview:
| Market | Export Value (million GBP) | Change |
|---|---|---|
| USA | £421.4 | -3.5% |
| India | Volume up 12% | |
| Total Exports | £2.1 billion | -18% |
- Keywords: Scottish whisky, export decline, tariffs, USA, India, SWA, global trade
