The export worth in H1 2024 totalled £2.1 billion, whereas volumes fell by 10.2% – equal to 566 million 70 cl bottles.
“The Prime Minister has promised to ‘again Scotch producers to the hilt’. These figures are a reminder that the success of Scotch Whisky can’t be taken without any consideration and requires authorities help to ease the business by way of quick time period volatility,” stated SWA chief govt Mark Kent.
“It’s clear that the primary half of 2024 has been difficult, as for different premium international exports. This has not come as a shock given the risky worldwide state of affairs affecting international industries and inflationary pressures which have fed by way of to customers throughout international markets.”
Regardless of present tariffs of 150%, India stays the class’s largest market by quantity and grew by 17.3% within the first half of 2024 in comparison with the earlier 12 months.
“It’s welcome that the UK authorities has picked up negotiations on a UK-India commerce settlement,” continued Kent.
“Exports to India have been a shiny spot within the first half of 2024, regardless of the present 150% tariff being a brake on future progress. Securing a deal which reduces the tariff can be a serious enhance to the business and assist to mitigate the affect of a slowdown in different international markets.”
