Scotch whisky exports up 23% in 2011 thanks to booming new markets
Whisky exports to Brazil were up 48% in 2011, states Scotch Whisky Association
Paul Fraser Collectibles, Wednesday 28 March 2012
Earlier this month we reported that the top 10 performing whiskies have grown in value by more than 400% between 2008 and the end of 2011.
Now new figures from the Scotch Whisky Association have revealed that exports from Scotland of the "water of life" were up 23% in 2011.
Brazil's whisky market was the fastest growing in the world, with imports from Scotland up 48% compared with 2010. Singapore and Taiwan's whisky markets were both up by 44%.
The value of whisky exports reached a record £4.2bn last year, with the US and France the biggest importers.
Export values of Scotch whisky have increased by an average of 10% per year over the last five years and these exports contribute £134 to the UK's balance of trade per second.
Gavin Hewitt, the chief executive of the Scotch Whisky Association, commented: "Despite continuing economic uncertainty, Scotch continues to meet increasing demand from all corners of the globe.
"It continues to appeal to consumers in countries such as the USA and France and is being enjoyed by younger professionals in newer markets in Asia and Latin America."
The strength of the top end of the market is reflected in the prices rare whiskies are achieving at auction. Earlier this month, one of just 11 bottles of 55-year-old Glenfiddich Janet Sheed Roberts Reserve ever produced sold for $94,000 (£59,350), surpassing the previous £46,850 world record for a bottled whisky at auction by 26%.
The world record price for a whisky was set in 2010 when a Macallan 64-year-old Cire Perdue, presented in a Lalique crystal decanter, sold for $460,000.
Market experts believe that the 2020 whisky markets could be worth £17m, a rise of 325% from today.
For more news on the whisky market, including upcoming auctions and sale results, watch this space.
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