ASIA-PAC SAVED SCOTCH EXPORTS AMID CRASH IN AMERICAS, S’PORE UP 59% & CHINA UP 39.5%
By Susan Lewis
Source: Scotch Whisky Association
Growth in exports to Asia Pacific has helped sales of Scotch whisky hold steady in the first half of 2023 amid severe contraction in exports to the Americas, latest data released by Scotch Whisky Association (SWA) has revealed.
Among the Asian markets, Singapore stands out with stellar growth of 59 percent, value of Scotch whisky imports reaching £165m (USD210m), up from £104m in H1 2022.
Value of Scotch exports to China grew by 39.5 percent to £135m during the six-month period, to Taiwan increased 21.4 percent to £149m, to South Korea boosted 9.6 percent to £64m and to Japan grew 6.1 percent to £86m.
The Asia Pacific region leapfrogged to become Scotch whisky’s biggest regional market by value at £857m having increased by 13.5 percent during the period.
India is the the worst performing major Asian market in H1 2023, Scotch imports in the country has contracted 28.1 percent by value to £94m and 31.4 percent by volume to 72 million 70cl bottles.
Overall, the value of Scotch whisky exports value in H1 2023 has dropped 3.6 percent on 2022 to £2.57 billion, while by volume it has fallen 20 percent to the equivalent of 630m bottles.
Despite the negative numbers, SWA said the trade has held steady when compared with H1 2022 - a year in which the industry posted record exports as markets grew and restocked following the pandemic.
While USA has remained the most valuable market in H1 2023, total export value has dropped 5.1 percent to £437m from £460m in H1 2022.
Scotch whisky’s market in Central and South America literally crashed having slumped 47.8 percent by value to £178m.
Commenting on export figures in Hi 2023, SWA Chief Executive Mark Kent said: “2022 was an exceptional year for Scotch Whisky exports, breaking records in both value and volume. So, at the half-way point of 2023, it is encouraging that the industry is keeping pace with export value, continuing to deliver significant economic growth through production and investment in Scotland and across the UK.”
He attributed Scotch whisky’s resilience to the trend of premiumisation in the spirits category where consumers are drinking less overall and switching to higher quality spirits like Scotch whisky.
Scotch whisky exports by global region (defined by value):
Asia Pacific: £857m +13.5%
European Union:£728m +3.8%
North America: £526m -7.2%
Middle East and Africa: £196m -12.9%
Central and South America: £178m -47.8%
Europe (ex.EU): £95m +14.5%
The largest export destinations for Scotch whisky (defined by value):
1. USA: £ 437m -5.1% (£460m in H1 2022)
2. France: £ 235m +4.0% (£226m in H1 2022)
3. Singapore: £165m +59.0% (£104m in H1 2022)
4. Taiwan: £149m +21.4% (£123m in H1 2022)
5. China: £135m +39.5% (£97m in H1 2022)
6. India: £94m -28.1% (£131m in H1 2022)
7. Germany: £91m +3.1% (£88m in H1 2022)
8. Japan: £86m +6.1% (£81m in H1 2022)
9. Spain: £81m +14.9% (£71m in H1 2022)
10. South Korea £64m +9.6% (£59m in H1 2022)
The largest export destinations for Scotch whisky (defined by volume, 70cl bottles equivalent):
1. France: 88m bottles -12.6% (101m bottles in H1 2022)
2. India: 72m bottles -31.4% (106m bottles in H1 2022)
3. USA: 59m bottles -14.9% (70m bottles in H1 2022)
4. Japan: 31m bottles -14.5% (36m bottles in H1 2022)
5. Spain: 28m bottles -6.7% (31m bottles in H1 2022)
6. Germany: 27m bottles -23.0% (35m bottles in H1 2022)
7. Brazil: 21m bottles -57.0% (50m bottles in H1 2022)
8. Turkey: 19m bottles +14.5% (16m bottles in H1 2022)
9. Netherlands: 17m bottles +8.4% (16m bottles in H1 2022)
10. Poland 16m bottles -9.9% (18m bottles in H1 2022)
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