The Scotch Whiskey Association (SWA) revealed data on Friday, February 10, that showed how India became the largest importer of Scotch whisky in 2022 as exports of the beverage shattered records and for the first time reached more than £6 billion.
Overall the value of Scotch Whisky exports increased by 37% to £6.2 billion in 2022. Additionally, the export of 70cl bottles increased by 21% to 1.67 billion bottles.
As the post-Covid rebound persisted, Taiwan, Singapore, India, and China all had double-digit growth, making the Asia-Pacific region the industry's largest regional market (eclipsing the EU).
Not only is India now the UK’s biggest market for scotch but according to SWA research, a UK-India FTA that reduces Scotch Whiskey's 150% tariff burden in India might improve market access for Scotland's whisky industries, enabling an additional £1 billion in growth over the following five years. Scotch whiskey still only makes up 2% of the Indian whisky market, the SWA claimed, despite double-digit growth.
Following the effects of tariffs on Single Malt Scotch Whisky in North America, the United States continues its comeback and is once again the industry's sole export market with shipments worth over £1 billion. Growth was also experienced by Mexico and Canada, highlighting the significance of gaining more market access gains through the renegotiation of the UK's Free Trade Agreements with those nations.
“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.” ~ Nigel Huddleston, the UK Government's Minister of State at the Department for Business and Trade