Portal Login
© 2023 Vintage Acquisitions.
t: +44 (0)208 057 2001 e: info@vintageacquisitions.com · Established 2011
Vintage Acquisitions Vintage Acquisitions
  • Home
  • The Company
    • Who We Are
    • Why Use Us
    • Our Office
    • Our History
    • Vintage Whisky Group
    • Corporate Social Responsibility
    • FAQs
    • Video FAQs
  • Buy A Cask
    • Reasons To Buy
    • The Buying Process
    • Whisky Cask Ownership
    • Whisky Cask Investment Guide
    • Storage and Provenance
    • Trade Partnerships
    • Wholesale
    • Investment Portal
  • Sell A Cask
    • The Selling Process
    • Cask Valuation
    • Wine Valuation
  • Whisky By Regions
    • Whisky Distilleries
  • Market News
  • Contact
Portal Login
Vintage Acquisitions
Home / Industry News / Scotch whisky exports hit record £6 billion in 2022

Scotch whisky exports hit record £6 billion in 2022

By Vintage-Acquisitions inIndustry News, Portal
Originally Posted by www.thedrinksbusiness.com

In 2022, the value of Scotch whisky exports was up 37% by value to £6.2bn, despite economic headwinds, according to figures released today by the Scotch Whisky Association (SWA).

Scotch whisky exports broke records in 2022, growing to more than £6 billion for the first time.

The Asia-Pacific region overtook the EU as the industry’s largest regional market, with double-digit growth in Taiwan, Singapore, India and China as the post-Covid recovery continued.

India has also now replaced France as the largest Scotch whisky market by volume. Scotch whisky still only comprises 2% of the Indian whisky market, despite double digit growth. However, SWA analysis suggests that a UK-India free trade deal which eases the 150% tariff burden on Scotch whisky in India could boost market access for Scottish producers, in turn allowing for an additional £1 billion of growth over the next five years.

Established whisky markets in the EU — including France, Germany and Spain — saw strong growth in 2022, as export bounced back following the Covid-19 pandemic.

And the US was the only market with exports valued over £1 billion, as sales continue their recovery following the impacts of tariffs on Single Malt Scotch Whisky.

Elsewhere in North America, Mexico and Canada also saw growth, highlighting the importance of free trade agreements with both countries securing further market access.

Commenting on the figures, Mark Kent, chief executive of the Scotch Whisky Association, said the industry continues to be an “anchor of growth” supporting both investment and job creation despite “a year of significant economic headwinds and global supply chain disruption”.

In 2022 the industry benefited from the full re-opening of hospitality businesses across key global markets, and the return of travel retail was key to export sales.

Exports were also boosted by a trend in premiumisation, with consumers attracted to high-quality spirits like Scotch whisky.

Looking toward 2023, the industry will continue to navigate economic headwinds including “global inflationary pressures, domestic energy and business costs, and a reduction in consumer confidence”, Kent said. “With the right support from our home governments, we remain confident that the industry can continue to deliver for the Scottish and wider UK economy.

“By reducing tariffs through the UK-India free trade agreement, continuing the duty freeze in the March budget, and ensuring the industry’s continued ability to advertise our world-class product in our home market, the Scottish and UK governments can count on the Scotch Whisky industry to reinvest its success across the UK.”

The whisky industry is responsible for employing 11,000 people directly in Scotland, over 7,000 of whom work in rural areas, and a further 42,000 jobs across the UK.

Nigel Huddleston, the UK Government’s Minister of State at the Department for Business and Trade, said: “Scotch Whisky is one of the UK’s great exporting success stories, contributing billions of pounds to the economy and supporting thousands of jobs, so I’m pleased to see these export figures showing a growing global demand.

“It’s essential we continue to support the industry as it expands into new markets thanks to our new trade agreements around the world such as CPTPP and in India. As we set our sights on £1 trillion exports by 2030, I’m confident we can see Scotch Whisky go from strength to strength in the years ahead.

Photo credit: ©iStock.com

BottlescasksInvestmentrarewhisky
76
Like this post
Vintage Acquisitions | Scotch whisky exports hit record £6 billion in 2022
90 Posts
Vintage-Acquisitions
  • How to Invest in Whiskey
    Previous PostHow to Invest in Whiskey
  • Next PostUK-India FTA could double size of Scotch
    How to Invest in Whiskey

Related Posts

Experts forecast future revival of Scotland’s legendary Whisky Coast, once home to the Whisky Capital of the World
Blog Portal

Experts forecast future revival of Scotland’s legendary Whisky Coast, once home to the Whisky Capital of the World

UK and India agree ‘£1bn’ Scotch whisky trade deal
Blog Industry News Portal

UK and India agree ‘£1bn’ Scotch whisky trade deal

UK and India Sign Landmark Free Trade Agreement: A Toast to Whisky and Economic Growth
Blog Industry News Investment Portal VA News

UK and India Sign Landmark Free Trade Agreement: A Toast to Whisky and Economic Growth

Leave a Reply (Cancel reply)

You must be logged in to post a comment.

Company

Brooks & Whitaker Limited trading as `Vintage Acquisitions`, Whisky House, Unit 3, 2 Newhams Row, London, SE1 3UZ

tel: +44 (0)208 057 2001
email: info@vintageacquisitions.com

Buy A Cask

  • Reasons To Buy
  • Buying Process
  • Storage & Provenance
  • Cask Ownership
  • Trade & Wholesale
  • Client Portal

Sell A Cask

  • The Selling Process
  • Cask Valuation
  • Wine Valuation

Useful Links

  • Privacy Policy
  • Terms & Conditions
  • Cookie Policy
  • GDPR

Subscribe to newsletter

Vintage Acquisitions always recommend that you seek independent legal and financial advice prior to purchasing.

Company No. 7761569  |  VAT No. 127464313  |  WOWGR No. 127.4643.13/0001  |  Distributor of Denatured Alcohol DNA/209446  |  Excise ID. GBOG127464300  |  EORI No.: GB127464313000

vintage-acquisitions-logo

© 2025 Vintage Acquisitions

in
Call us: +44 (0)208 057 2001
Copy

Whisky Cask Investment Form